Visa Inc (V) is Redmond Asset Management LLC’s 9th Largest Holding

Visa Inc (V) is Redmond Asset Management LLC’s 9th Largest Holding

Redmond Asset Management LLC reduced its stake in Visa Inc (NYSE:V) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,063 shares of the credit-card processor’s stock after selling 388 shares during the quarter. Visa comprises about 1.8% of Redmond Asset Management LLC’s portfolio, making the stock its 9th largest holding. Redmond Asset Management LLC’s holdings in Visa were worth $4,512,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Fort L.P. purchased a new position in Visa during the 2nd quarter worth approximately $120,000. Bridgeworth LLC purchased a new position in Visa during the 2nd quarter worth approximately $143,000. Ruggie Capital Group purchased a new position in Visa during the 2nd quarter worth approximately $164,000. Quadrant Private Wealth Management LLC purchased a new position in Visa during the 3rd quarter worth approximately $200,000. Finally, O Dell Group LLC purchased a new position in Visa during the 3rd quarter worth approximately $200,000. 84.21% of the stock is owned by hedge funds and other institutional investors.

In other Visa news, SVP James H. Hoffmeister sold 2,252 shares of Visa stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $144.56, for a total transaction of $325,549.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William M. Sheedy sold 3,643 shares of Visa stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total transaction of $484,774.01. Following the sale, the executive vice president now directly owns 241,983 shares in the company, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,764 shares of company stock worth $14,160,077. 0.17% of the stock is currently owned by corporate insiders.

Visa stock opened at $140.80 on Tuesday. Visa Inc has a 1 year low of $116.03 and a 1 year high of $151.56. The firm has a market capitalization of $281.80 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.50 and a current ratio of 1.50.

Visa (NYSE:V) last released its quarterly earnings results on Wednesday, January 30th. The credit-card processor reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. Visa had a net margin of 50.61% and a return on equity of 39.32%. The firm had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, analysts forecast that Visa Inc will post 5.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Friday, February 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.00 annualized dividend and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is presently 21.69%.

V has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Visa in a research note on Monday, January 28th. They set a “buy” rating and a $135.99 price objective on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $166.00 price objective on shares of Visa in a research note on Thursday, October 25th. Barclays initiated coverage on shares of Visa in a research note on Wednesday, November 14th. They set an “overweight” rating and a $170.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $160.00 price objective on shares of Visa in a research note on Thursday, January 31st. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $178.00 price objective on shares of Visa in a research note on Friday, December 21st. One equities research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $162.77.

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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