Puzo Michael J cut its holdings in Visa Inc (NYSE:V) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,740 shares of the credit-card processor’s stock after selling 800 shares during the quarter. Puzo Michael J’s holdings in Visa were worth $1,152,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Markel Corp increased its position in shares of Visa by 0.4% during the 3rd quarter. Markel Corp now owns 924,400 shares of the credit-card processor’s stock worth $138,743,000 after purchasing an additional 4,000 shares during the last quarter. Rothschild Investment Corp IL increased its position in shares of Visa by 0.9% during the 3rd quarter. Rothschild Investment Corp IL now owns 49,539 shares of the credit-card processor’s stock worth $7,435,000 after purchasing an additional 438 shares during the last quarter. BB&T Corp increased its position in shares of Visa by 6.0% during the 3rd quarter. BB&T Corp now owns 241,316 shares of the credit-card processor’s stock worth $36,219,000 after purchasing an additional 13,724 shares during the last quarter. Reilly Financial Advisors LLC increased its position in shares of Visa by 6.2% during the 3rd quarter. Reilly Financial Advisors LLC now owns 18,095 shares of the credit-card processor’s stock worth $2,716,000 after purchasing an additional 1,053 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of Visa during the 4th quarter worth approximately $224,000. Institutional investors own 80.94% of the company’s stock.
In other Visa news, EVP Lynne Biggar sold 15,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $150.00, for a total value of $2,250,000.00. Following the transaction, the executive vice president now owns 22,294 shares in the company, valued at $3,344,100. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Ellen Richey sold 81,005 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $139.99, for a total value of $11,339,889.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,531 shares of company stock worth $28,797,949. Corporate insiders own 0.17% of the company’s stock.
Visa (NYSE:V) last announced its earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. Visa had a return on equity of 39.32% and a net margin of 50.61%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the company earned $1.11 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc will post 5.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, May 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. Visa’s payout ratio is 21.69%.
A number of research firms recently weighed in on V. restated a “buy” rating on shares of Visa in a research note on Tuesday, February 12th. Jefferies Financial Group boosted their price target on Visa from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Deutsche Bank boosted their price target on Visa from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Nomura upped their target price on Visa from $151.00 to $175.00 in a research report on Thursday, April 11th. Finally, Raymond James reiterated an “outperform” rating and set a $152.00 target price (down from $167.00) on shares of Visa in a research report on Thursday, January 31st. One equities research analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $169.68.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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