LMR Partners LLP trimmed its position in Visa Inc (NYSE:V) by 70.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,188 shares of the credit-card processor’s stock after selling 66,040 shares during the period. LMR Partners LLP’s holdings in Visa were worth $5,109,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Procyon Private Wealth Partners LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $1,455,000. FSA Wealth Management LLC bought a new stake in Visa during the 4th quarter valued at $43,000. PAX Financial Group LLC acquired a new position in Visa during the 4th quarter worth $299,000. National Pension Service boosted its position in Visa by 2.7% during the 4th quarter. National Pension Service now owns 1,969,451 shares of the credit-card processor’s stock worth $370,060,000 after acquiring an additional 51,281 shares during the period. Finally, Cornerstone Wealth Management LLC grew its stake in shares of Visa by 3.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,509 shares of the credit-card processor’s stock worth $1,223,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction on Monday, December 30th. The stock was sold at an average price of $189.31, for a total transaction of $1,325,170.00. Following the completion of the sale, the chief executive officer now owns 150,514 shares of the company’s stock, valued at $28,493,805.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO James H. Hoffmeister sold 2,186 shares of Visa stock in a transaction on Friday, February 14th. The stock was sold at an average price of $208.71, for a total transaction of $456,240.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,371 shares of company stock valued at $7,814,759. 0.19% of the stock is currently owned by corporate insiders.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $1.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.46. The firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.08 billion. Visa had a net margin of 52.60% and a return on equity of 43.15%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $1.30 earnings per share. Analysts forecast that Visa Inc will post 6.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.30 per share. This is an increase from Visa’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio is presently 22.06%.
A number of research firms have commented on V. Raymond James boosted their price target on shares of Visa from $205.00 to $221.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Nomura reiterated a “buy” rating and set a $233.00 price target on shares of Visa in a research report on Monday, January 20th. Wedbush reissued a “buy” rating and issued a $215.00 price objective on shares of Visa in a research note on Monday, February 10th. KeyCorp cut their price objective on Visa from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Monday. Finally, Cantor Fitzgerald raised their target price on Visa from $200.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $214.15.
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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