Barometer Capital Management Inc. reduced its stake in Visa Inc (NYSE:V) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,500 shares of the credit-card processor’s stock after selling 7,350 shares during the period. Visa accounts for 2.8% of Barometer Capital Management Inc.’s portfolio, making the stock its 4th largest position. Barometer Capital Management Inc.’s holdings in Visa were worth $28,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in V. Janus Henderson Group PLC raised its stake in Visa by 159.7% in the second quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock worth $909,979,000 after buying an additional 5,966,991 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Visa by 2.1% during the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after purchasing an additional 2,628,148 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Visa by 20.3% during the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock valued at $1,068,613,000 after purchasing an additional 1,919,732 shares in the last quarter. Harbour Capital Advisors LLC increased its stake in shares of Visa by 10,570.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,598,668 shares of the credit-card processor’s stock valued at $17,047,000 after purchasing an additional 1,583,686 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Visa by 1.3% during the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after purchasing an additional 1,440,034 shares in the last quarter. 81.49% of the stock is owned by institutional investors.
In other news, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the sale, the executive vice president now directly owns 76,202 shares in the company, valued at approximately $8,661,119.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert W. Matschullat sold 6,220 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the sale, the director now owns 57,368 shares in the company, valued at $6,526,183.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,068 shares of company stock worth $6,597,262. Insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. Visa’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. analysts anticipate that Visa Inc will post 4.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th were issued a $0.195 dividend. The ex-dividend date was Thursday, November 16th. This is an increase from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s payout ratio is 27.86%.
A number of brokerages have weighed in on V. Wells Fargo & Company raised shares of Visa from a “market perform” rating to an “outperform” rating and raised their target price for the company from $107.01 to $120.00 in a research note on Tuesday, October 10th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Cantor Fitzgerald assumed coverage on shares of Visa in a report on Thursday, September 28th. They set an “overweight” rating and a $120.00 price target on the stock. KeyCorp reiterated a “buy” rating and set a $110.00 price target on shares of Visa in a report on Friday, August 25th. Finally, Buckingham Research increased their price target on shares of Visa from $129.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $118.02.
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Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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