Swedbank decreased its position in Visa Inc (NYSE:V) by 10.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,138,862 shares of the credit-card processor’s stock after selling 378,298 shares during the quarter. Visa comprises about 2.0% of Swedbank’s holdings, making the stock its 17th largest position. Swedbank owned 0.14% of Visa worth $330,334,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in V. British Columbia Investment Management Corp grew its holdings in Visa by 1.7% in the 1st quarter. British Columbia Investment Management Corp now owns 1,244,896 shares of the credit-card processor’s stock valued at $110,634,000 after buying an additional 20,798 shares during the period. TCI Wealth Advisors Inc. grew its holdings in Visa by 2.7% in the 1st quarter. TCI Wealth Advisors Inc. now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 78 shares during the period. Gamco Investors INC. ET AL grew its holdings in Visa by 5.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 71,787 shares of the credit-card processor’s stock valued at $6,380,000 after buying an additional 3,900 shares during the period. Gabelli Funds LLC grew its holdings in Visa by 14.2% in the 1st quarter. Gabelli Funds LLC now owns 241,300 shares of the credit-card processor’s stock valued at $21,444,000 after buying an additional 30,000 shares during the period. Finally, Cedar Capital LLC purchased a new stake in Visa in the 1st quarter valued at about $422,000. 81.49% of the stock is owned by hedge funds and other institutional investors.
V has been the subject of several recent analyst reports. Wells Fargo & Co upgraded Visa from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $107.01 to $120.00 in a report on Tuesday, October 10th. KeyCorp restated a “buy” rating and issued a $118.00 price target on shares of Visa in a report on Wednesday, October 18th. Barclays lifted their price target on Visa from $114.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Morgan Stanley lifted their price target on Visa from $114.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, October 20th. Finally, Citigroup lifted their price target on Visa from $115.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Two analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $118.02.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. research analysts expect that Visa Inc will post 4.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Friday, November 17th were given a dividend of $0.195 per share. The ex-dividend date was Thursday, November 16th. This is a positive change from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a yield of 0.69%. Visa’s payout ratio is 27.86%.
In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the transaction, the executive vice president now directly owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James H. Hoffmeister sold 2,146 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now directly owns 687 shares in the company, valued at $77,005.83. The disclosure for this sale can be found here. Insiders have sold a total of 58,068 shares of company stock worth $6,597,262 over the last three months. 0.14% of the stock is currently owned by corporate insiders.
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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