Riverpark Capital Management LLC cut its holdings in shares of Visa Inc (NYSE:V) by 25.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 230,239 shares of the credit-card processor’s stock after selling 76,696 shares during the quarter. Visa accounts for approximately 3.2% of Riverpark Capital Management LLC’s holdings, making the stock its 15th biggest holding. Riverpark Capital Management LLC’s holdings in Visa were worth $24,230,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of V. Cowen Inc. purchased a new position in shares of Visa in the third quarter worth $3,725,000. Oppenheimer Asset Management Inc. increased its stake in shares of Visa by 8.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 270,804 shares of the credit-card processor’s stock worth $28,501,000 after buying an additional 20,049 shares during the period. Monetta Financial Services Inc. purchased a new position in shares of Visa in the third quarter worth $3,157,000. Heritage Trust Co increased its stake in shares of Visa by 47.4% in the third quarter. Heritage Trust Co now owns 6,662 shares of the credit-card processor’s stock worth $701,000 after buying an additional 2,142 shares during the period. Finally, Psagot Investment House Ltd. increased its stake in shares of Visa by 8.8% in the third quarter. Psagot Investment House Ltd. now owns 26,410 shares of the credit-card processor’s stock worth $2,779,000 after buying an additional 2,140 shares during the period. 81.59% of the stock is currently owned by hedge funds and other institutional investors.
V has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Credit Suisse Group set a $129.00 target price on shares of Visa and gave the stock a “buy” rating in a research note on Monday, January 8th. Vetr cut shares of Visa from a “buy” rating to a “hold” rating and set a $121.05 price target on the stock. in a report on Monday, January 8th. Jefferies Group lifted their price target on shares of Visa from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, October 30th. Finally, Cowen reiterated a “buy” rating and issued a $129.00 price target on shares of Visa in a report on Friday, January 12th. Two research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $134.20.
In other news, SVP James H. Hoffmeister sold 2,146 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the sale, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,780 shares of company stock worth $6,802,702. Company insiders own 0.14% of the company’s stock.
Shares of Visa Inc (V) opened at $120.43 on Thursday. Visa Inc has a fifty-two week low of $87.30 and a fifty-two week high of $126.88. The company has a market cap of $272,920.00, a price-to-earnings ratio of 39.88, a PEG ratio of 1.61 and a beta of 1.03. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60.
Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. sell-side analysts forecast that Visa Inc will post 4.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s payout ratio is 27.81%.
Visa declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the credit-card processor to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
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Visa Company Profile
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.
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