First American Trust FSB cut its stake in Visa Inc (NYSE:V) by 27.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,799 shares of the credit-card processor’s stock after selling 16,511 shares during the period. First American Trust FSB’s holdings in Visa were worth $4,880,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital City Trust Co. FL lifted its position in Visa by 6.8% in the fourth quarter. Capital City Trust Co. FL now owns 20,369 shares of the credit-card processor’s stock valued at $2,144,000 after buying an additional 1,301 shares during the last quarter. Patriot Wealth Management Inc. lifted its position in shares of Visa by 1.6% during the fourth quarter. Patriot Wealth Management Inc. now owns 39,271 shares of the credit-card processor’s stock worth $4,478,000 after purchasing an additional 617 shares in the last quarter. Grassi Investment Management lifted its position in shares of Visa by 3.2% during the fourth quarter. Grassi Investment Management now owns 110,233 shares of the credit-card processor’s stock worth $12,569,000 after purchasing an additional 3,376 shares in the last quarter. Waverton Investment Management Ltd lifted its position in shares of Visa by 15.8% during the fourth quarter. Waverton Investment Management Ltd now owns 797,112 shares of the credit-card processor’s stock worth $90,887,000 after purchasing an additional 108,667 shares in the last quarter. Finally, Crow Point Partners LLC lifted its position in shares of Visa by 5.9% during the fourth quarter. Crow Point Partners LLC now owns 285,938 shares of the credit-card processor’s stock worth $32,697,000 after purchasing an additional 15,938 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.
In other news, EVP Lynne Biggar sold 1,712 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction dated Friday, December 15th. The shares were 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 directly owns 76,202 shares in the company, valued at approximately $8,661,119.32. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
Several equities analysts have commented on the stock. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $115.24 price target on the stock in a research note on Monday, December 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $141.00 target price on shares of Visa in a research report on Friday, December 22nd. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Susquehanna Bancshares increased their price target on Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Finally, Barclays reaffirmed a “buy” rating and set a $145.00 price target on shares of Visa in a report on Friday, January 5th. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Visa has an average rating of “Buy” and an average price target of $134.14.
Shares of Visa Inc (NYSE:V) traded down $0.56 during mid-day trading on Wednesday, reaching $122.64. The company’s stock had a trading volume of 4,928,616 shares, compared to its average volume of 8,199,081. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $276,040.00, a price-to-earnings ratio of 48.06, a PEG ratio of 1.64 and a beta of 1.00. Visa Inc has a one year low of $87.85 and a one year high of $126.88.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. analysts predict that Visa Inc will post 4.36 EPS for the current year.
Visa declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.68%. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 15th. Visa’s payout ratio is presently 32.94%.
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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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