Sequoia Financial Advisors LLC trimmed its position in Visa Inc (NYSE:V) by 9.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,836 shares of the credit-card processor’s stock after selling 1,031 shares during the period. Sequoia Financial Advisors LLC’s holdings in Visa were worth $1,585,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Stephenson National Bank & Trust acquired a new position in shares of Visa during the 4th quarter worth approximately $28,000. Laffer Investments acquired a new position in shares of Visa during the 4th quarter worth approximately $31,000. AlphaMark Advisors LLC raised its position in shares of Visa by 57.8% during the 1st quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 63 shares during the period. Sageworth Trust Co purchased a new stake in shares of Visa during the 4th quarter valued at approximately $40,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Visa during the 4th quarter valued at approximately $43,000. Institutional investors own 81.88% of the company’s stock.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $161.40, for a total value of $1,129,800.00. Following the sale, the chief executive officer now directly owns 142,090 shares in the company, valued at $22,933,326. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 21,000 shares of company stock worth $3,620,540 over the last quarter. Company insiders own 0.19% of the company’s stock.
Several analysts have recently commented on V shares. Nomura Securities reduced their price target on shares of Visa from $233.00 to $214.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Wells Fargo & Co reduced their price target on shares of Visa from $230.00 to $205.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. KeyCorp reduced their price target on shares of Visa from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, March 23rd. Morgan Stanley lifted their price target on shares of Visa from $183.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Credit Suisse Group cut their target price on Visa from $223.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Five equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Visa currently has an average rating of “Buy” and a consensus price target of $202.75.
Shares of V stock traded up $0.24 during trading hours on Friday, hitting $190.86. The company’s stock had a trading volume of 5,581,642 shares, compared to its average volume of 9,964,502. The business has a fifty day moving average of $173.48 and a 200-day moving average of $183.49. The stock has a market cap of $370.47 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 3.03 and a beta of 0.92. Visa Inc has a twelve month low of $133.93 and a twelve month high of $214.17. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, April 30th. The credit-card processor reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.75 billion. Visa had a net margin of 52.26% and a return on equity of 43.45%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.31 earnings per share. On average, equities analysts expect that Visa Inc will post 4.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be given a $0.30 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. Visa’s dividend payout ratio is presently 22.06%.
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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