Simon Quick Advisors LLC lowered its holdings in Visa Inc. (NYSE:V – Get Rating) by 35.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,875 shares of the credit-card processor’s stock after selling 1,036 shares during the period. Simon Quick Advisors LLC’s holdings in Visa were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new stake in shares of Visa during the 3rd quarter worth about $373,000. Morgan Stanley lifted its stake in shares of Visa by 1.3% during the 2nd quarter. Morgan Stanley now owns 41,708,994 shares of the credit-card processor’s stock worth $9,752,396,000 after buying an additional 533,415 shares during the last quarter. Keudell Morrison Wealth Management lifted its stake in shares of Visa by 1.7% during the 3rd quarter. Keudell Morrison Wealth Management now owns 12,330 shares of the credit-card processor’s stock worth $2,747,000 after buying an additional 205 shares during the last quarter. New World Advisors LLC acquired a new stake in shares of Visa during the 3rd quarter worth about $457,000. Finally, Riggs Asset Managment Co. Inc. lifted its stake in shares of Visa by 0.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 35,876 shares of the credit-card processor’s stock worth $7,991,000 after buying an additional 313 shares during the last quarter. 81.28% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Thursday. Citigroup dropped their price objective on shares of Visa from $285.00 to $265.00 in a research note on Monday, April 25th. Exane BNP Paribas cut shares of Visa from an “outperform” rating to a “neutral” rating and set a $210.00 price objective for the company. in a research note on Monday, January 10th. Robert W. Baird decreased their target price on shares of Visa from $305.00 to $290.00 in a report on Friday, January 28th. Finally, Raymond James raised their target price on shares of Visa from $265.00 to $281.00 and gave the company an “outperform” rating in a report on Friday, January 28th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Visa has an average rating of “Buy” and a consensus price target of $265.24.
Visa (NYSE:V – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $6.82 billion. During the same quarter in the previous year, the business posted $1.38 EPS. Visa’s quarterly revenue was up 25.5% on a year-over-year basis. Analysts forecast that Visa Inc. will post 7.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th will be paid a $0.375 dividend. The ex-dividend date is Thursday, May 12th. This represents a $1.50 annualized dividend and a dividend yield of 0.70%. Visa’s payout ratio is 23.58%.
In related news, CAO James H. Hoffmeister sold 1,737 shares of the stock in a transaction dated Tuesday, February 1st. The shares were sold at an average price of $231.49, for a total transaction of $402,098.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $223.91, for a total transaction of $2,015,190.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,250 shares of company stock valued at $10,951,267. Company insiders own 0.21% of the company’s stock.
About Visa (Get Rating)
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
- Get a free copy of the StockNews.com research report on Visa (V)
- Why is Chevron Stock Falling After Strong Earnings?
- MarketBeat: Week in Review 4/25 – 4/29
- Apple’s Numbers Complete Trifecta
- Rogers Communication Stock Should Be Launching Higher
- O’Reilly Automotive Hits A Pothole
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.