West Coast Financial LLC Sells 541 Shares of Visa (V)

West Coast Financial LLC trimmed its holdings in shares of Visa (NYSE:V) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,472 shares of the credit-card processor’s stock after selling 541 shares during the quarter. West Coast Financial LLC’s holdings in Visa were worth $624,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in Visa by 159.7% during the second quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock worth $909,979,000 after buying an additional 5,966,991 shares during the last quarter. Vanguard Group Inc. raised its holdings in Visa by 2.1% during the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after buying an additional 2,628,148 shares during the last quarter. Capital Research Global Investors raised its holdings in Visa by 20.3% during the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after buying an additional 1,919,732 shares during the last quarter. Temasek Holdings Private Ltd raised its holdings in Visa by 116.3% during the third quarter. Temasek Holdings Private Ltd now owns 3,292,775 shares of the credit-card processor’s stock worth $346,532,000 after buying an additional 1,770,488 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Visa by 9.3% during the third quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock worth $2,019,358,000 after buying an additional 1,624,700 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, EVP Lynne Biggar sold 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

Shares of Visa stock traded down $3.49 on Friday, reaching $117.70. The stock had a trading volume of 8,383,796 shares, compared to its average volume of 8,650,757. Visa has a 1 year low of $88.13 and a 1 year high of $126.88. The company has a market cap of $242,525.22, a price-to-earnings ratio of 33.82, a PEG ratio of 1.55 and a beta of 0.99. 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 quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. sell-side analysts predict that Visa will post 4.38 earnings per share for the current year.

Visa declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the credit-card processor to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

V has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Visa in a research note on Thursday, February 1st. KeyCorp upped their target price on shares of Visa from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Cantor Fitzgerald upped their target price on shares of Visa to $141.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Citigroup reiterated a “buy” rating and issued a $145.00 target price (up previously from $136.00) on shares of Visa in a research note on Monday, January 29th. Finally, Oppenheimer increased their price target on shares of Visa from $125.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $134.97.

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About Visa

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.

Institutional Ownership by Quarter for Visa (NYSE:V)

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