Daiwa Securities Group Inc. decreased its holdings in Visa Inc (NYSE:V) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 132,257 shares of the credit-card processor’s stock after selling 2,363 shares during the period. Daiwa Securities Group Inc.’s holdings in Visa were worth $17,446,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of V. Highwater Wealth Management LLC purchased a new stake in shares of Visa during the 4th quarter valued at about $33,000. Ironwood Financial llc increased its position in shares of Visa by 67.5% during the 4th quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock valued at $44,000 after purchasing an additional 135 shares during the last quarter. Contravisory Investment Management Inc. increased its position in shares of Visa by 180.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 396 shares of the credit-card processor’s stock valued at $52,000 after purchasing an additional 255 shares during the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Visa during the 4th quarter valued at about $57,000. Finally, G&S Capital LLC increased its position in shares of Visa by 86.0% during the 4th quarter. G&S Capital LLC now owns 519 shares of the credit-card processor’s stock valued at $68,000 after purchasing an additional 240 shares during the last quarter. 81.02% of the stock is owned by institutional investors and hedge funds.
In other Visa news, EVP Lynne Biggar sold 15,000 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 22,294 shares in the company, valued at approximately $3,344,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William M. Sheedy sold 75,676 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $165.24, for a total value of $12,504,702.24. Following the completion of the transaction, the executive vice president now owns 300,114 shares of the company’s stock, valued at $49,590,837.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,202 shares of company stock valued at $29,962,762. 0.17% of the stock is currently owned by corporate insiders.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. Visa had a return on equity of 40.56% and a net margin of 51.34%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. On average, sell-side analysts expect that Visa Inc will post 5.38 earnings per share for the current year.
The business 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 dividend of $0.25 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s dividend payout ratio (DPR) is presently 21.69%.
Several equities research analysts have 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 for the company in a research report on Saturday, April 27th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $181.00 price target on shares of Visa in a research report on Sunday, April 28th. Goldman Sachs Group reaffirmed a “buy” rating and set a $188.00 price target on shares of Visa in a research report on Thursday, May 2nd. UBS Group upped their price target on shares of Visa from $146.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets upped their price target on shares of Visa to $214.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. One research analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Visa has a consensus rating of “Buy” and an average target price of $176.67.
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Visa Company Profile
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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