Somerville Kurt F decreased its stake in Visa Inc (NYSE:V) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,685 shares of the credit-card processor’s stock after selling 175 shares during the period. Somerville Kurt F’s holdings in Visa were worth $1,069,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Selective Wealth Management Inc. acquired a new position in shares of Visa during the third quarter valued at $47,000. Investors Research Corp raised its stake in shares of Visa by 40.2% during the third quarter. Investors Research Corp now owns 279 shares of the credit-card processor’s stock valued at $48,000 after purchasing an additional 80 shares in the last quarter. NewSquare Capital LLC lifted its holdings in Visa by 29.2% in the third quarter. NewSquare Capital LLC now owns 310 shares of the credit-card processor’s stock worth $53,000 after purchasing an additional 70 shares during the period. JJJ Advisors Inc. lifted its holdings in Visa by 203.4% in the third quarter. JJJ Advisors Inc. now owns 358 shares of the credit-card processor’s stock worth $62,000 after purchasing an additional 240 shares during the period. Finally, Winthrop Partners WNY LLC bought a new position in Visa in the 3rd quarter valued at about $71,000. 81.08% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP William M. Sheedy sold 3,110 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $182.52, for a total transaction of $567,637.20. Following the sale, the executive vice president now owns 227,740 shares in the company, valued at $41,567,104.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William M. Sheedy sold 21,164 shares of the business’s 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 owns 227,126 shares in the company, valued at approximately $40,589,687.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,480 shares of company stock valued at $10,606,182. Corporate insiders own 0.17% of the company’s stock.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.04. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $6.08 billion. Visa had a net margin of 52.57% and a return on equity of 42.57%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. As a group, sell-side analysts expect that Visa Inc will post 6.2 earnings per share for the current year.
Several equities analysts have commented on V shares. Oppenheimer reissued a “buy” rating and set a $202.00 target price on shares of Visa in a research note on Tuesday. Wedbush upped their price target on shares of Visa from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday. Raymond James increased their price objective on shares of Visa from $193.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wells Fargo & Co raised their price objective on shares of Visa from $200.00 to $213.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target 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.
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