Thomas Story & Son LLC reduced its stake in shares of Visa Inc (NYSE:V) by 15.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 85,815 shares of the credit-card processor’s stock after selling 15,900 shares during the period. Visa makes up 7.6% of Thomas Story & Son LLC’s holdings, making the stock its biggest holding. Thomas Story & Son LLC’s holdings in Visa were worth $14,761,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Nuveen Asset Management LLC grew its stake in Visa by 3,715.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock valued at $2,827,471,000 after purchasing an additional 15,864,991 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in Visa by 17,806.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock valued at $334,695,000 after purchasing an additional 3,328,260 shares in the last quarter. BlackRock Inc. grew its stake in Visa by 2.3% during the 2nd quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after purchasing an additional 2,773,330 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Visa by 92.0% in the 2nd quarter. Prudential Financial Inc. now owns 3,898,728 shares of the credit-card processor’s stock worth $676,625,000 after acquiring an additional 1,868,089 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Visa by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock worth $25,507,824,000 after acquiring an additional 1,615,505 shares in the last quarter. Institutional investors and hedge funds own 80.98% of the company’s stock.
In other news, insider Vasant M. Prabhu sold 25,051 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total value of $4,537,738.14. Following the sale, the insider now owns 62,223 shares of the company’s stock, valued at approximately $11,271,074.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $177.79, for a total value of $1,244,530.00. Following the completion of the sale, the chief executive officer now directly owns 55,446 shares in the company, valued at approximately $9,857,744.34. The disclosure for this sale can be found here. Insiders have sold a total of 53,215 shares of company stock worth $9,564,487 in the last ninety days. 0.17% of the stock is owned by company insiders.
Visa stock traded up $0.54 during mid-day trading on Friday, hitting $178.97. 3,777,681 shares of the company’s stock traded hands, compared to its average volume of 7,614,820. The firm has a 50 day moving average price of $176.22 and a 200 day moving average price of $173.43. 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 company has a market cap of $349.90 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. Visa Inc has a one year low of $121.60 and a one year high of $187.05.
Visa (NYSE:V) last announced its earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.04. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6.08 billion. Visa had a return on equity of 42.57% and a net margin of 52.57%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. On average, analysts expect that Visa Inc will post 6.21 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 14th. Visa’s payout ratio is currently 18.38%.
V has been the subject of several research reports. Citigroup lifted their target price on Visa from $185.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Guggenheim set a $194.00 price objective on Visa and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley restated an “overweight” rating and set a $207.00 price objective on shares of Visa in a research report on Friday, October 25th. Piper Jaffray Companies set a $207.00 price objective on Visa and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, UBS Group boosted their price objective on Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average 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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