Howe & Rusling Inc. Sells 209 Shares of Visa Inc (V)

Howe & Rusling Inc. decreased its holdings in Visa Inc (NYSE:V) by 5.7% during the 4th quarter, HoldingsChannel reports. The fund owned 3,484 shares of the credit-card processor’s stock after selling 209 shares during the quarter. Howe & Rusling Inc.’s holdings in Visa were worth $460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Visa by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 133,049,441 shares of the credit-card processor’s stock worth $19,969,390,000 after buying an additional 640,593 shares in the last quarter. Vanguard Group Inc lifted its position in shares of Visa by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 133,049,441 shares of the credit-card processor’s stock worth $19,969,390,000 after buying an additional 640,593 shares in the last quarter. BlackRock Inc. lifted its position in shares of Visa by 0.8% during the 3rd quarter. BlackRock Inc. now owns 122,485,390 shares of the credit-card processor’s stock worth $18,383,832,000 after buying an additional 936,305 shares in the last quarter. FMR LLC lifted its position in shares of Visa by 1.7% during the 3rd quarter. FMR LLC now owns 86,917,222 shares of the credit-card processor’s stock worth $13,045,406,000 after buying an additional 1,450,809 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Visa by 3.9% during the 3rd quarter. Morgan Stanley now owns 29,757,958 shares of the credit-card processor’s stock worth $4,466,371,000 after buying an additional 1,119,197 shares in the last quarter. 80.97% of the stock is currently owned by institutional investors and hedge funds.

In related news, Vice Chairman Ellen Richey sold 81,005 shares of Visa 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James H. Hoffmeister sold 6,480 shares of Visa stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $151.00, for a total transaction of $978,480.00. Following the completion of the transaction, the senior vice president now owns 6,480 shares of the company’s stock, valued at $978,480. The disclosure for this sale can be found here. Insiders sold a total of 269,207 shares of company stock valued at $41,302,652 over the last quarter. 0.17% of the stock is owned by company insiders.

A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $181.00 price target on the stock in a report on Saturday, April 27th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $181.00 price target on shares of Visa in a report on Sunday, April 28th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $188.00 price target on shares of Visa in a report on Thursday. UBS Group lifted their price target on shares of Visa from $146.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, BMO Capital Markets lifted their price target on shares of Visa to $214.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. One analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $176.67.

Visa stock opened at $162.04 on Friday. Visa Inc has a 1-year low of $121.60 and a 1-year high of $165.74. The company has a market capitalization of $325.28 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a quick ratio of 1.50, a current ratio of 1.62 and a debt-to-equity ratio of 0.58.

Visa (NYSE:V) last released its quarterly earnings data on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Visa had a net margin of 51.34% and a return on equity of 40.56%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the previous year, the business earned $1.11 EPS. Visa’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc will post 5.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Friday, May 17th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.62%. Visa’s dividend payout ratio is 21.69%.

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About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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