West Chester Capital Advisors Inc. reduced its stake in shares of Visa Inc (NYSE:V) by 22.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,286 shares of the credit-card processor’s stock after selling 3,330 shares during the period. Visa makes up about 3.8% of West Chester Capital Advisors Inc.’s holdings, making the stock its 5th largest holding. West Chester Capital Advisors Inc.’s holdings in Visa were worth $1,489,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Eagle Asset Management Inc. grew its holdings in Visa by 13.4% in the third quarter. Eagle Asset Management Inc. now owns 35,259 shares of the credit-card processor’s stock worth $5,292,000 after purchasing an additional 4,171 shares during the period. Camden National Bank grew its holdings in Visa by 1,387.6% in the third quarter. Camden National Bank now owns 58,684 shares of the credit-card processor’s stock worth $8,808,000 after purchasing an additional 54,739 shares during the period. South Texas Money Management Ltd. grew its holdings in Visa by 25.9% in the third quarter. South Texas Money Management Ltd. now owns 2,706 shares of the credit-card processor’s stock worth $406,000 after purchasing an additional 556 shares during the period. Arcadia Investment Management Corp MI grew its holdings in Visa by 34.6% in the third quarter. Arcadia Investment Management Corp MI now owns 47,573 shares of the credit-card processor’s stock worth $7,140,000 after purchasing an additional 12,240 shares during the period. Finally, Royal London Asset Management Ltd. grew its holdings in Visa by 0.8% in the third quarter. Royal London Asset Management Ltd. now owns 1,040,370 shares of the credit-card processor’s stock worth $156,113,000 after purchasing an additional 7,814 shares during the period. Hedge funds and other institutional investors own 80.79% of the company’s stock.
Shares of NYSE:V traded up $1.13 during midday trading on Friday, hitting $162.64. 4,105,647 shares of the stock were exchanged, compared to its average volume of 8,164,822. The company has a market capitalization of $324.64 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. Visa Inc has a twelve month low of $121.60 and a twelve month high of $165.74.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. The business 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 business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.11 EPS. As a group, equities analysts anticipate that Visa Inc will post 5.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 21.69%.
A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Visa in a research report on Monday, January 28th. They set a “buy” rating and a $135.99 target price on the stock. Deutsche Bank raised their target price on Visa from $160.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Robert W. Baird set a $182.00 target price on Visa and gave the company an “outperform” rating in a report on Wednesday, May 8th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Friday, May 17th. Finally, Nomura raised their target price on Visa from $175.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $177.67.
In related news, SVP James H. Hoffmeister sold 6,480 shares of Visa stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $151.00, for a total transaction of $978,480.00. Following the completion of the sale, the senior vice president now owns 6,480 shares in the company, valued at approximately $978,480. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William M. Sheedy sold 75,676 shares of Visa stock in a transaction dated 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 sale, the executive vice president now owns 300,114 shares of the company’s stock, valued at approximately $49,590,837.36. The disclosure for this sale can be found here. Insiders have sold a total of 188,202 shares of company stock valued at $29,962,762 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.
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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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