Visa Inc (V) Shares Sold by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD cut its holdings in shares of Visa Inc (NYSE:V) by 4.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 329,452 shares of the credit-card processor’s stock after selling 17,154 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Visa were worth $49,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Parsons Capital Management Inc. RI increased its stake in shares of Visa by 23.9% during the 1st quarter. Parsons Capital Management Inc. RI now owns 30,191 shares of the credit-card processor’s stock worth $3,611,000 after purchasing an additional 5,825 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Visa by 7.0% during the 1st quarter. Principal Financial Group Inc. now owns 4,197,728 shares of the credit-card processor’s stock worth $502,132,000 after purchasing an additional 276,308 shares during the last quarter. Ostrum Asset Management increased its stake in shares of Visa by 89.8% during the 1st quarter. Ostrum Asset Management now owns 228,673 shares of the credit-card processor’s stock worth $27,354,000 after purchasing an additional 108,163 shares during the last quarter. NS Partners Ltd increased its stake in shares of Visa by 3.5% during the 1st quarter. NS Partners Ltd now owns 150,960 shares of the credit-card processor’s stock worth $18,058,000 after purchasing an additional 5,108 shares during the last quarter. Finally, United Capital Financial Advisers LLC increased its stake in shares of Visa by 1.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 565,354 shares of the credit-card processor’s stock worth $67,628,000 after purchasing an additional 9,162 shares during the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.

In other news, EVP William M. Sheedy sold 99,636 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the sale, the executive vice president now owns 296,925 shares of the company’s stock, valued at approximately $41,355,714. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Shares of NYSE:V opened at $141.71 on Friday. Visa Inc has a 12-month low of $106.60 and a 12-month high of $151.56. The company has a market cap of $280.57 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.58.

Visa (NYSE:V) last announced its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.44 billion. Equities analysts expect that Visa Inc will post 5.32 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio is presently 21.69%.

Several research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Wells Fargo & Co upped their price target on shares of Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. BMO Capital Markets upped their price target on shares of Visa from $187.00 to $196.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. Credit Suisse Group upped their price target on shares of Visa from $150.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. Finally, Robert W. Baird upped their price target on shares of Visa from $156.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. Two investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $156.09.

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Visa Profile

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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