Pacer Advisors Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 7.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 96,261 shares of the credit-card processor’s stock after selling 8,156 shares during the quarter. Pacer Advisors Inc.’s holdings in Visa were worth $20,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Essex Financial Services Inc. increased its position in Visa by 9.3% during the 4th quarter. Essex Financial Services Inc. now owns 22,867 shares of the credit-card processor’s stock worth $5,002,000 after buying an additional 1,944 shares during the period. Ritholtz Wealth Management increased its position in shares of Visa by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 10,442 shares of the credit-card processor’s stock worth $2,284,000 after purchasing an additional 410 shares during the period. Institute for Wealth Management LLC. increased its position in shares of Visa by 4.9% in the fourth quarter. Institute for Wealth Management LLC. now owns 13,588 shares of the credit-card processor’s stock worth $2,972,000 after purchasing an additional 629 shares during the period. Merrion Investment Management Co LLC bought a new position in shares of Visa in the fourth quarter worth $551,000. Finally, Altium Wealth Management LLC increased its position in shares of Visa by 4.0% in the fourth quarter. Altium Wealth Management LLC now owns 20,216 shares of the credit-card processor’s stock worth $4,422,000 after purchasing an additional 776 shares during the period. Hedge funds and other institutional investors own 80.50% of the company’s stock.
A number of research analysts recently commented on the company. Barclays restated a “buy” rating and issued a $230.00 price target on shares of Visa in a research report on Tuesday, December 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 14th. Morgan Stanley raised their price objective on Visa from $233.00 to $253.00 and gave the company an “overweight” rating in a research note on Monday, March 22nd. Sanford C. Bernstein initiated coverage on Visa in a research note on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 price objective on the stock. Finally, Jefferies Financial Group raised Visa from a “hold” rating to a “buy” rating and raised their price objective for the company from $195.00 to $250.00 in a research note on Wednesday, January 13th. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $226.42.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 28th. The credit-card processor reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.14. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.52 billion. Visa had a return on equity of 37.22% and a net margin of 49.74%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 5.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, February 11th. Visa’s dividend payout ratio is currently 25.40%.
In other Visa news, President Ryan Mcinerney sold 11,193 shares of Visa stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $210.00, for a total value of $2,350,530.00. Following the completion of the sale, the president now directly owns 11,193 shares in the company, valued at $2,350,530. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $212.55, for a total value of $1,912,950.00. Following the completion of the sale, the chief executive officer now owns 163,112 shares of the company’s stock, valued at $34,669,455.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,093 shares of company stock worth $20,418,578. 0.19% of the stock is owned by insiders.
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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