Coronation Fund Managers Ltd. lessened its stake in shares of Visa Inc (NYSE:V) by 23.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 379,519 shares of the credit-card processor’s stock after selling 116,410 shares during the quarter. Visa comprises approximately 2.5% of Coronation Fund Managers Ltd.’s holdings, making the stock its 14th largest position. Coronation Fund Managers Ltd.’s holdings in Visa were worth $56,962,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exane Derivatives boosted its stake in shares of Visa by 19.5% during the 3rd quarter. Exane Derivatives now owns 5,836 shares of the credit-card processor’s stock worth $876,000 after acquiring an additional 951 shares in the last quarter. Calton & Associates Inc. boosted its stake in Visa by 5.8% during the 3rd quarter. Calton & Associates Inc. now owns 7,997 shares of the credit-card processor’s stock valued at $1,200,000 after purchasing an additional 435 shares during the period. Ingalls & Snyder LLC boosted its stake in Visa by 2.7% during the 3rd quarter. Ingalls & Snyder LLC now owns 25,420 shares of the credit-card processor’s stock valued at $3,815,000 after purchasing an additional 660 shares during the period. Dearborn Partners LLC boosted its stake in Visa by 72.8% during the 3rd quarter. Dearborn Partners LLC now owns 12,360 shares of the credit-card processor’s stock valued at $1,855,000 after purchasing an additional 5,206 shares during the period. Finally, Traynor Capital Management Inc. boosted its stake in Visa by 8.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 20,844 shares of the credit-card processor’s stock valued at $3,128,000 after purchasing an additional 1,609 shares during the period. Institutional investors own 80.15% of the company’s stock.
Several brokerages recently weighed in on V. Wells Fargo & Co increased their target price on Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, October 1st. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Tuesday, September 25th. BMO Capital Markets began coverage on Visa in a research note on Wednesday, September 26th. They set an “outperform” rating and a $187.00 target price for the company. Goldman Sachs Group downgraded Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price for the company. in a research note on Monday, September 17th. Finally, Bank of America restated a “buy” rating and set a $163.00 target price on shares of Visa in a research note on Monday, September 17th. Two analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $156.09.
In other news, EVP William M. Sheedy sold 13,864 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $144.97, for a total value of $2,009,864.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total value of $484,774.01. Following the completion of the transaction, the executive vice president now directly owns 241,983 shares of the company’s stock, valued at $32,200,677.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,395 shares of company stock valued at $16,697,489. 0.17% of the stock is currently owned by insiders.
Shares of V opened at $131.40 on Tuesday. Visa Inc has a 1 year low of $111.02 and a 1 year high of $151.56. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $272.48 billion, a PE ratio of 28.50, a P/E/G ratio of 1.47 and a beta of 1.11.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a return on equity of 38.00% and a net margin of 49.98%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. As a group, equities research analysts expect that Visa Inc will post 5.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 15th. 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 0.76%. Visa’s dividend payout ratio is presently 21.69%.
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.
See Also: Float
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.