Foothills Asset Management Ltd. trimmed its holdings in Visa Inc (NYSE:V) by 2.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,533 shares of the credit-card processor’s stock after selling 645 shares during the quarter. Visa accounts for about 2.5% of Foothills Asset Management Ltd.’s investment portfolio, making the stock its 10th biggest position. Foothills Asset Management Ltd.’s holdings in Visa were worth $3,232,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of V. BlackRock Inc. boosted its stake in shares of Visa by 1.3% in the second quarter. BlackRock Inc. now owns 121,549,085 shares of the credit-card processor’s stock valued at $16,099,178,000 after buying an additional 1,535,089 shares in the last quarter. FMR LLC increased its stake in Visa by 2.9% in the second quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock valued at $11,320,026,000 after purchasing an additional 2,398,540 shares during the last quarter. Fisher Asset Management LLC increased its stake in Visa by 3.8% in the second quarter. Fisher Asset Management LLC now owns 17,685,789 shares of the credit-card processor’s stock valued at $2,342,483,000 after purchasing an additional 639,522 shares during the last quarter. Edgewood Management LLC increased its stake in Visa by 2.5% in the second quarter. Edgewood Management LLC now owns 15,192,387 shares of the credit-card processor’s stock valued at $2,012,232,000 after purchasing an additional 365,072 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Visa by 10.9% during the second quarter. American Century Companies Inc. now owns 11,098,080 shares of the credit-card processor’s stock worth $1,469,941,000 after acquiring an additional 1,091,838 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.
Shares of Visa stock opened at $141.05 on Friday. The company has a market capitalization of $279.64 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 1.51 and a beta of 1.11. Visa Inc has a fifty-two week low of $109.45 and a fifty-two week high of $151.56. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.58.
Visa (NYSE:V) last announced its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.44 billion. Equities analysts anticipate that Visa Inc will post 5.33 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th were issued a dividend of $0.25 per share. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, November 15th. Visa’s dividend payout ratio (DPR) is currently 21.69%.
Several brokerages have recently weighed in on V. Wells Fargo & Co upped their target price on Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Royal Bank of Canada increased their price target on Visa to $170.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective on the stock in a research note on Tuesday, September 25th. Credit Suisse Group upped their price objective on Visa from $150.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $166.00 target price on shares of Visa in a research report on Thursday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $156.09.
In other news, EVP William M. Sheedy sold 13,864 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $144.97, for a total value of $2,009,864.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William M. Sheedy sold 3,643 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total transaction of $484,774.01. Following the completion of the sale, the executive vice president now directly owns 241,983 shares in the company, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. Insiders have sold 119,395 shares of company stock valued at $16,697,489 over the last quarter. Corporate insiders own 0.14% of the company’s stock.
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Visa Company Profile
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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