Oakbrook Investments LLC decreased its position in shares of Visa Inc (NYSE:V) by 25.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 274,098 shares of the credit-card processor’s stock after selling 93,259 shares during the quarter. Visa accounts for approximately 2.3% of Oakbrook Investments LLC’s investment portfolio, making the stock its 4th largest position. Oakbrook Investments LLC’s holdings in Visa were worth $41,139,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fort L.P. bought a new position in shares of Visa in the second quarter worth about $120,000. Cascade Investment Advisors Inc. bought a new position in shares of Visa in the second quarter worth about $132,000. Bridgeworth LLC bought a new position in shares of Visa in the second quarter worth about $143,000. Ruggie Capital Group bought a new position in shares of Visa in the second quarter worth about $164,000. Finally, Signature Estate & Investment Advisors LLC lifted its holdings in shares of Visa by 36.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after acquiring an additional 365 shares during the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. Credit Suisse Group increased their target price on shares of Visa from $150.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, October 8th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $166.00 target price on shares of Visa in a report on Thursday, October 25th. Robert W. Baird increased their target price on shares of Visa from $156.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, September 14th. Bank of America increased their target price on shares of Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a report on Monday, August 13th. Finally, BMO Capital Markets assumed coverage on shares of Visa in a report on Wednesday, September 26th. They issued an “outperform” rating and a $187.00 target price for the company. Two analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $156.09.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.44 billion. On average, sell-side analysts predict that Visa Inc will post 5.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. This is an increase from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio is currently 21.69%.
In other Visa news, EVP William M. Sheedy sold 3,643 shares of the 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 owns 241,983 shares of the company’s stock, valued at approximately $32,200,677.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 2,252 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $144.56, for a total transaction of $325,549.12. The disclosure for this sale can be found here. Insiders sold 119,395 shares of company stock valued at $16,697,489 in the last ninety days. 0.14% of the stock is currently owned by insiders.
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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