Bridges Investment Counsel Inc. reduced its stake in Visa Inc (NYSE:V) by 75.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,196 shares of the credit-card processor’s stock after selling 56,824 shares during the period. Visa comprises approximately 1.1% of Bridges Investment Counsel Inc.’s investment portfolio, making the stock its 26th largest position. Bridges Investment Counsel Inc.’s holdings in Visa were worth $1,915,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Motco boosted its stake in shares of Visa by 25.1% in the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after purchasing an additional 236 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in Visa during the 2nd quarter worth approximately $115,000. Mascoma Wealth Management LLC acquired a new stake in Visa during the 2nd quarter worth approximately $122,000. MPS Loria Financial Planners LLC acquired a new stake in Visa during the 2nd quarter worth approximately $123,000. Finally, SpiderRock Advisors LLC boosted its position in Visa by 107.1% during the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the period. Institutional investors own 81.91% of the company’s stock.
Several research firms recently commented on V. Jefferies Group reiterated a “buy” rating and set a $125.00 target price (up from $112.00) on shares of Visa in a research report on Tuesday, October 17th. Robert W. Baird reiterated an “outperform” rating and set a $128.00 target price (up from $122.00) on shares of Visa in a research report on Monday, October 2nd. Morgan Stanley lifted their target price on shares of Visa from $125.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Cantor Fitzgerald reiterated a “buy” rating and set a $120.00 target price on shares of Visa in a research report on Wednesday, October 25th. Finally, Vetr downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $113.35 target price on the stock. in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $117.23.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the business earned $0.78 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. sell-side analysts forecast that Visa Inc will post 4.05 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th were paid a $0.195 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.78 annualized dividend and a dividend yield of 0.69%. This is a positive change from Visa’s previous quarterly dividend of $0.17. Visa’s payout ratio is currently 27.86%.
In other news, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction on Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the completion of the sale, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Matschullat sold 6,220 shares of Visa stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the sale, the director now owns 57,368 shares of the company’s stock, valued at approximately $6,526,183.68. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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