Cresset Asset Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 46.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,782 shares of the credit-card processor's stock after selling 188,265 shares during the period. Cresset Asset Management LLC's holdings in Visa were worth $68,828,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in V. Decker Retirement Planning Inc. bought a new position in Visa during the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter worth approximately $27,000. POM Investment Strategies LLC lifted its stake in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. Compass Planning Associates Inc acquired a new position in Visa in the fourth quarter worth approximately $32,000. Finally, NewSquare Capital LLC bought a new position in shares of Visa in the fourth quarter valued at $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa Stock Up 0.5 %
V traded up $1.68 during trading on Friday, reaching $352.95. The stock had a trading volume of 3,086,498 shares, compared to its average volume of 7,183,453. The stock's 50 day moving average is $336.96 and its two-hundred day moving average is $326.25. The company has a market capitalization of $655.70 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. Visa's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio is 23.72%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Bank of America boosted their price objective on Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Seaport Res Ptn raised Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. StockNews.com lowered Visa from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Macquarie decreased their target price on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $362.38.
Check Out Our Latest Stock Report on Visa
Insider Transactions at Visa
In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,931. The trade was a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,948 shares of company stock valued at $41,548,282. 0.13% of the stock is currently owned by insiders.
About Visa
(
Free Report)
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
See Also
Before you consider Visa, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Visa wasn't on the list.
While Visa currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
