Bedel Financial Consulting Inc. lifted its position in shares of Visa Inc (NYSE:V) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,310 shares of the credit-card processor’s stock after acquiring an additional 74 shares during the quarter. Bedel Financial Consulting Inc.’s holdings in Visa were worth $372,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Rowland & Co. Investment Counsel ADV lifted its stake in shares of Visa by 4.4% in the 4th quarter. Rowland & Co. Investment Counsel ADV now owns 1,183 shares of the credit-card processor’s stock valued at $222,000 after purchasing an additional 50 shares during the period. Pratt Collard Advisory Partners LLC lifted its stake in shares of Visa by 3.6% in the 4th quarter. Pratt Collard Advisory Partners LLC now owns 1,445 shares of the credit-card processor’s stock valued at $272,000 after purchasing an additional 50 shares during the period. Capital Investment Counsel Inc lifted its stake in shares of Visa by 0.3% in the 4th quarter. Capital Investment Counsel Inc now owns 17,031 shares of the credit-card processor’s stock valued at $3,200,000 after purchasing an additional 50 shares during the period. Private Advisory Group LLC lifted its stake in shares of Visa by 3.0% in the 4th quarter. Private Advisory Group LLC now owns 1,758 shares of the credit-card processor’s stock valued at $330,000 after purchasing an additional 51 shares during the period. Finally, Weaver Consulting Group lifted its stake in shares of Visa by 12.9% in the 4th quarter. Weaver Consulting Group now owns 445 shares of the credit-card processor’s stock valued at $77,000 after purchasing an additional 51 shares during the period. 81.88% of the stock is currently owned by institutional investors.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $161.40, for a total value of $1,129,800.00. Following the transaction, the chief executive officer now owns 142,090 shares in the company, valued at $22,933,326. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 21,000 shares of company stock worth $3,620,540. 0.19% of the stock is owned by company insiders.
Visa (NYSE:V) last released its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.75 billion. Visa had a return on equity of 43.45% and a net margin of 52.26%. Visa’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, research analysts predict that Visa Inc will post 4.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, May 13th. Visa’s dividend payout ratio is presently 22.06%.
A number of research analysts have recently issued reports on V shares. Raymond James boosted their price objective on Visa from $188.00 to $204.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Citigroup boosted their target price on Visa from $190.00 to $194.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. SunTrust Banks boosted their target price on Visa from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, May 1st. KeyCorp decreased their target price on Visa from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, March 23rd. Finally, Guggenheim lowered Visa from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. Five investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $202.75.
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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