Somerville Kurt F trimmed its position in shares of Visa Inc (NYSE:V) by 10.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,175 shares of the credit-card processor’s stock after selling 710 shares during the quarter. Somerville Kurt F’s holdings in Visa were worth $815,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Highwater Wealth Management LLC purchased a new stake in shares of Visa during the fourth quarter worth approximately $33,000. Ironwood Financial llc increased its position in shares of Visa by 67.5% during the fourth quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock worth $44,000 after purchasing an additional 135 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of Visa by 180.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 396 shares of the credit-card processor’s stock worth $52,000 after purchasing an additional 255 shares in the last quarter. G&S Capital LLC increased its position in shares of Visa by 86.0% during the fourth quarter. G&S Capital LLC now owns 519 shares of the credit-card processor’s stock worth $68,000 after purchasing an additional 240 shares in the last quarter. Finally, First Command Bank increased its position in shares of Visa by 70.8% during the fourth quarter. First Command Bank now owns 1,030 shares of the credit-card processor’s stock worth $136,000 after purchasing an additional 427 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.
In related news, Vice Chairman Ellen Richey sold 81,005 shares of the stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $139.99, for a total transaction of $11,339,889.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tullier Kelly Mahon sold 91,046 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $156.29, for a total value of $14,229,579.34. Following the transaction, the executive vice president now directly owns 120,602 shares in the company, valued at approximately $18,848,886.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,531 shares of company stock worth $28,797,949. 0.17% of the stock is owned by corporate insiders.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, January 30th. The credit-card processor reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.05. Visa had a return on equity of 39.32% and a net margin of 50.61%. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Equities analysts forecast that Visa Inc will post 5.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Friday, February 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, February 14th. Visa’s payout ratio is 21.69%.
Several analysts have issued reports on the company. Raymond James restated an “outperform” rating and issued a $152.00 target price (down from $167.00) on shares of Visa in a report on Thursday, January 31st. Cantor Fitzgerald restated a “buy” rating and issued a $160.00 target price on shares of Visa in a report on Thursday, January 31st. Wedbush upped their target price on Visa from $150.00 to $162.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Jefferies Financial Group upped their target price on Visa from $170.00 to $175.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, restated a “buy” rating on shares of Visa in a report on Tuesday, February 12th. One analyst has rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $166.04.
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Visa, Inc engages in the provision of payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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