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.
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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