Sageworth Trust Co lessened its stake in Visa Inc. (NYSE:V - Free Report) by 89.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 970 shares of the credit-card processor's stock after selling 8,657 shares during the quarter. Sageworth Trust Co's holdings in Visa were worth $340,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its position in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. lifted its stake in shares of Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock valued at $3,834,000 after purchasing an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY lifted its stake in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock valued at $402,000 after purchasing an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its position in shares of Visa by 13.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock worth $6,521,000 after purchasing an additional 2,230 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Key Visa News
Here are the key news stories impacting Visa this week:
Analyst Ratings Changes
V has been the subject of several research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 target price on shares of Visa in a research report on Wednesday, April 29th. Oppenheimer reiterated an "outperform" rating and set a $403.00 target price (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. BMO Capital Markets started coverage on shares of Visa in a research note on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 price target for the company. Daiwa Securities Group raised Visa from a "neutral" rating to an "outperform" rating and set a $370.00 target price for the company in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $395.00 price target on shares of Visa in a report on Friday, January 30th. Six analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Visa currently has an average rating of "Buy" and an average price target of $387.25.
View Our Latest Research Report on V
Visa Price Performance
Shares of V opened at $318.95 on Thursday. The firm has a market capitalization of $578.94 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.73 and a beta of 0.78. The firm's fifty day simple moving average is $310.39 and its 200-day simple moving average is $326.87. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $375.51. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.Visa's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.76 earnings per share. Equities analysts forecast that Visa Inc. will post 13.05 EPS for the current fiscal year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 12th. Visa's dividend payout ratio is 23.34%.
Visa announced that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares of the company's stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd Carney sold 650 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the sale, the director owned 2,679 shares of the company's stock, valued at $829,471.98. This represents a 19.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company's stock.
Visa Profile
(
Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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