Howard Hughes Medical Institute Lowers Holdings in Visa Inc (V)

Howard Hughes Medical Institute cut its holdings in shares of Visa Inc (NYSE:V) by 64.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,000 shares of the credit-card processor’s stock after selling 99,813 shares during the period. Visa comprises approximately 1.4% of Howard Hughes Medical Institute’s holdings, making the stock its 13th largest holding. Howard Hughes Medical Institute’s holdings in Visa were worth $5,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Krilogy Financial LLC lifted its holdings in Visa by 0.3% during the 2nd quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock worth $241,000 after buying an additional 7 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in Visa by 0.4% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 4,747 shares of the credit-card processor’s stock worth $445,000 after buying an additional 20 shares in the last quarter. Baker Ellis Asset Management LLC lifted its holdings in Visa by 0.3% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 6,262 shares of the credit-card processor’s stock worth $587,000 after buying an additional 20 shares in the last quarter. Lakeview Capital Partners LLC lifted its holdings in Visa by 0.8% during the 2nd quarter. Lakeview Capital Partners LLC now owns 4,283 shares of the credit-card processor’s stock worth $402,000 after buying an additional 34 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC lifted its holdings in Visa by 0.5% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock worth $739,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 81.57% of the company’s stock.

Several research analysts have issued reports on V shares. Wells Fargo & Co raised Visa from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $107.01 to $120.00 in a report on Tuesday, October 10th. Cowen reaffirmed a “buy” rating and set a $107.00 price objective on shares of Visa in a report on Thursday, October 12th. Mizuho reaffirmed a “buy” rating and set a $115.00 price objective on shares of Visa in a report on Thursday, October 12th. Stephens started coverage on Visa in a report on Friday, October 13th. They set an “overweight” rating and a $125.00 price objective on the stock. Finally, Jefferies Group reissued a “buy” rating and issued a $125.00 price target (up previously from $112.00) on shares of Visa in a research note on Tuesday, October 17th. Two analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $133.85.

Shares of Visa Inc (NYSE:V) traded down $4.64 during trading on Monday, reaching $116.27. The company had a trading volume of 16,511,356 shares, compared to its average volume of 7,370,000. The firm has a market cap of $263,490.00, a P/E ratio of 38.50, a PEG ratio of 1.69 and a beta of 1.03. Visa Inc has a twelve month low of $84.88 and a twelve month high of $126.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. equities research analysts predict that Visa Inc will post 4.28 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Friday, February 16th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, February 15th. This is an increase from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio (DPR) is presently 25.83%.

Visa declared that its board has initiated a share buyback program on Thursday, February 1st that permits the company to buyback $7.50 billion in shares. This buyback authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the transaction, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $113.66, for a total value of $5,649,129.32. Following the transaction, the executive vice president now owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. 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 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

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About Visa

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.

Institutional Ownership by Quarter for Visa (NYSE:V)

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