RiverPark Advisors LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 6.9% in the 1st quarter, Holdings Channel reports. The fund owned 41,903 shares of the credit-card processor’s stock after selling 3,116 shares during the period. RiverPark Advisors LLC’s holdings in Visa were worth $8,872,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of V. Davidson Trust Co. lifted its stake in Visa by 2.0% in the first quarter. Davidson Trust Co. now owns 2,273 shares of the credit-card processor’s stock valued at $480,000 after buying an additional 44 shares during the period. Columbia Trust Co 01012016 grew its stake in Visa by 0.7% in the 1st quarter. Columbia Trust Co 01012016 now owns 6,107 shares of the credit-card processor’s stock valued at $1,292,000 after purchasing an additional 45 shares during the period. Ballast Advisors LLC grew its stake in shares of Visa by 0.7% during the 1st quarter. Ballast Advisors LLC now owns 6,618 shares of the credit-card processor’s stock worth $1,401,000 after acquiring an additional 45 shares during the period. SignalPoint Asset Management LLC boosted its stake in Visa by 1.4% in the 1st quarter. SignalPoint Asset Management LLC now owns 3,271 shares of the credit-card processor’s stock worth $693,000 after purchasing an additional 45 shares during the period. Finally, Compass Ion Advisors LLC boosted its stake in Visa by 2.7% in the 1st quarter. Compass Ion Advisors LLC now owns 1,841 shares of the credit-card processor’s stock worth $390,000 after purchasing an additional 48 shares during the period. 81.11% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $235.32, for a total transaction of $2,117,880.00. Following the sale, the chief executive officer now owns 160,112 shares in the company, valued at $37,677,555.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 42,336 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $240.00, for a total transaction of $10,160,640.00. The disclosure for this sale can be found here. Insiders have sold 88,047 shares of company stock valued at $20,834,001 over the last three months. 0.19% of the stock is currently owned by corporate insiders.
Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12. The business had revenue of $5.73 billion for the quarter, compared to analyst estimates of $5.54 billion. Visa had a return on equity of 33.86% and a net margin of 49.93%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 earnings per share. On average, equities analysts forecast that Visa Inc. will post 5.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.52%. Visa’s payout ratio is 25.40%.
Several analysts have weighed in on the company. Jefferies Financial Group raised their price target on Visa from $260.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. Barclays raised their price objective on Visa from $275.00 to $284.00 and gave the company an “overweight” rating in a report on Sunday, June 6th. Daiwa Capital Markets upgraded Visa from a “neutral” rating to an “outperform” rating and set a $259.00 price target on the stock in a research report on Tuesday, May 18th. Oppenheimer lifted their price objective on Visa from $260.00 to $281.00 and gave the stock an “outperform” rating in a research report on Friday, July 9th. Finally, Susquehanna Bancshares lifted their price target on Visa from $250.00 to $265.00 and gave the company a “positive” rating in a research report on Wednesday, April 28th. Twenty-two analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $258.92.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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