Gardiner Nancy B cut its holdings in Visa Inc (NYSE:V) by 0.8% during the fourth quarter, HoldingsChannel reports. The firm owned 6,406 shares of the credit-card processor’s stock after selling 54 shares during the period. Visa comprises 1.9% of Gardiner Nancy B’s investment portfolio, making the stock its 19th biggest position. Gardiner Nancy B’s holdings in Visa were worth $1,204,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Selective Wealth Management Inc. bought a new position in Visa during the third quarter valued at about $47,000. Investors Research Corp lifted its position in shares of Visa by 40.2% in the 3rd quarter. Investors Research Corp now owns 279 shares of the credit-card processor’s stock worth $48,000 after acquiring an additional 80 shares during the period. NewSquare Capital LLC lifted its position in shares of Visa by 29.2% in the 3rd quarter. NewSquare Capital LLC now owns 310 shares of the credit-card processor’s stock worth $53,000 after acquiring an additional 70 shares during the period. JJJ Advisors Inc. grew its holdings in shares of Visa by 203.4% during the 3rd quarter. JJJ Advisors Inc. now owns 358 shares of the credit-card processor’s stock worth $62,000 after purchasing an additional 240 shares in the last quarter. Finally, Winthrop Partners WNY LLC acquired a new stake in shares of Visa during the 3rd quarter worth approximately $71,000. 81.08% of the stock is owned by institutional investors and hedge funds.
In other news, EVP William M. Sheedy sold 21,164 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $178.71, for a total transaction of $3,782,218.44. Following the sale, the executive vice president now directly owns 227,126 shares of the company’s stock, valued at $40,589,687.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $189.31, for a total transaction of $1,325,170.00. Following the sale, the chief executive officer now directly owns 150,514 shares in the company, valued at $28,493,805.34. The disclosure for this sale can be found here. In the last three months, insiders sold 58,480 shares of company stock worth $10,606,182. Insiders own 0.17% of the company’s stock.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.04. Visa had a return on equity of 42.57% and a net margin of 52.57%. The business had revenue of $6.14 billion for the quarter, compared to analyst estimates of $6.08 billion. During the same period in the prior year, the company earned $1.21 EPS. Visa’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts forecast that Visa Inc will post 6.2 EPS for the current fiscal year.
A number of research analysts recently commented on V shares. BMO Capital Markets cut their target price on Visa from $239.00 to $232.00 and set an “outperform” rating for the company in a research note on Wednesday. Guggenheim set a $194.00 price target on shares of Visa and gave the company a “buy” rating in a report on Friday, October 25th. Nomura increased their price objective on shares of Visa from to and gave the company a “buy” rating in a research note on Monday. Wedbush raised their price objective on shares of Visa from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Jefferies Financial Group set a $210.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $204.58.
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.
See Also: What is the Consumer Price Index (CPI)?
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.