Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in shares of Visa Inc (NYSE:V) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527,937 shares of the credit-card processor’s stock after selling 21,514 shares during the quarter. Visa accounts for 1.2% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings, making the stock its 12th largest holding. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Visa were worth $90,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Zweig DiMenna Associates LLC raised its stake in Visa by 6.5% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 189,688 shares of the credit-card processor’s stock valued at $32,628,000 after acquiring an additional 11,496 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Visa by 3.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 611,018 shares of the credit-card processor’s stock valued at $105,101,000 after acquiring an additional 19,349 shares during the last quarter. Smithfield Trust Co. raised its stake in Visa by 3.7% during the 3rd quarter. Smithfield Trust Co. now owns 14,302 shares of the credit-card processor’s stock valued at $2,460,000 after acquiring an additional 505 shares during the last quarter. Oak Grove Capital LLC raised its stake in Visa by 186.7% during the 3rd quarter. Oak Grove Capital LLC now owns 7,125 shares of the credit-card processor’s stock valued at $1,226,000 after acquiring an additional 4,640 shares during the last quarter. Finally, Lee Danner & Bass Inc. raised its stake in shares of Visa by 8.1% during the 3rd quarter. Lee Danner & Bass Inc. now owns 4,471 shares of the credit-card processor’s stock worth $769,000 after buying an additional 335 shares in the last quarter. 80.98% of the stock is owned by hedge funds and other institutional investors.
V stock traded up $0.54 during midday trading on Friday, reaching $178.97. The company had a trading volume of 3,777,681 shares, compared to its average volume of 7,614,820. The company has a quick ratio of 1.69, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $176.22 and a 200 day moving average price of $173.43. Visa Inc has a fifty-two week low of $121.60 and a fifty-two week high of $187.05. The firm has a market capitalization of $349.90 billion, a PE ratio of 32.90, a P/E/G ratio of 1.83 and a beta of 0.94.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, beating 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 company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $6.08 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Research analysts predict that Visa Inc will post 6.21 EPS for the current year.
The business also recently declared a dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. Visa’s dividend payout ratio is currently 18.38%.
In other Visa news, insider Vasant M. Prabhu sold 25,051 shares of Visa stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the transaction, the insider now directly owns 62,223 shares in the company, valued at approximately $11,271,074.22. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $177.79, for a total transaction of $1,244,530.00. Following the transaction, the chief executive officer now owns 55,446 shares in the company, valued at $9,857,744.34. The disclosure for this sale can be found here. Insiders sold 53,215 shares of company stock worth $9,564,487 in the last ninety days. 0.17% of the stock is owned by corporate insiders.
A number of equities analysts have recently issued reports on the company. Wedbush set a $187.00 target price on Visa and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Barclays upped their price target on Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. SunTrust Banks increased their target price on Visa to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Guggenheim set a $194.00 target price on Visa and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Piper Jaffray Companies set a $207.00 target price on Visa and gave the company a “buy” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $199.04.
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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