Warren Averett Asset Management LLC trimmed its position in shares of Visa (NYSE:V) by 72.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,399 shares of the credit-card processor’s stock after selling 14,429 shares during the period. Warren Averett Asset Management LLC’s holdings in Visa were worth $646,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of V. Ladenburg Thalmann Financial Services Inc. grew its stake in Visa by 2.5% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 302,096 shares of the credit-card processor’s stock worth $31,795,000 after acquiring an additional 7,397 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in Visa in the 3rd quarter worth about $2,845,000. Davidson Kempner Capital Management LP bought a new position in Visa in the 3rd quarter worth about $13,155,000. Janney Montgomery Scott LLC grew its stake in Visa by 1.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 350,570 shares of the credit-card processor’s stock worth $36,894,000 after acquiring an additional 3,510 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in Visa by 188.7% in the 3rd quarter. Virtu Financial LLC now owns 22,060 shares of the credit-card processor’s stock worth $324,000 after acquiring an additional 14,419 shares in the last quarter. Institutional investors own 79.75% of the company’s stock.
A number of brokerages have commented on V. Wedbush upped their target price on shares of Visa from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 6th. UBS Group assumed coverage on shares of Visa in a research report on Friday, May 18th. They issued a “neutral” rating and a $141.00 price target for the company. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Friday, May 4th. Morgan Stanley upped their price target on shares of Visa from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Thursday, April 26th. Finally, Buckingham Research upped their price target on shares of Visa from $150.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, April 26th. Three investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $139.09.
In other news, President Ryan Mcinerney sold 38,500 shares of the stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $131.33, for a total value of $5,056,205.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James H. Hoffmeister sold 8,423 shares of the stock in a transaction on Monday, April 30th. The stock was sold at an average price of $127.67, for a total transaction of $1,075,364.41. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
NYSE V opened at $130.93 on Tuesday. The firm has a market capitalization of $276.60 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 1.74 and a beta of 0.98. Visa has a 12-month low of $93.19 and a 12-month high of $136.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.94 and a quick ratio of 1.94.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, April 25th. The credit-card processor reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.10. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a net margin of 48.18% and a return on equity of 33.90%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. equities analysts anticipate that Visa will post 4.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 5th. Shareholders of record on Friday, May 18th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, May 17th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s dividend payout ratio is currently 24.14%.
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.
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