Visa Inc. (V) Shares Sold by Kornitzer Capital Management Inc. KS
Kornitzer Capital Management Inc. KS cut its stake in shares of Visa Inc. (NYSE:V) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,025 shares of the credit-card processor’s stock after selling 3,205 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Visa were worth $16,046,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of V. Iowa State Bank acquired a new position in Visa during the second quarter valued at about $111,000. West Oak Capital LLC boosted its position in Visa by 245.5% in the second quarter. West Oak Capital LLC now owns 1,534 shares of the credit-card processor’s stock valued at $114,000 after buying an additional 1,090 shares during the last quarter. Hanson McClain Inc. boosted its position in Visa by 6.1% in the second quarter. Hanson McClain Inc. now owns 1,728 shares of the credit-card processor’s stock valued at $128,000 after buying an additional 100 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Visa during the second quarter valued at about $139,000. Finally, Duncker Streett & Co. Inc. boosted its position in Visa by 3.8% in the third quarter. Duncker Streett & Co. Inc. now owns 1,683 shares of the credit-card processor’s stock valued at $139,000 after buying an additional 62 shares during the last quarter. 79.52% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE:V) traded down 0.95% during mid-day trading on Monday, hitting $79.37. The stock had a trading volume of 6,259,300 shares. Visa Inc. has a 12-month low of $66.12 and a 12-month high of $83.96. The firm’s 50-day moving average price is $81.58 and its 200 day moving average price is $80.00. The stock has a market cap of $185.73 billion, a price-to-earnings ratio of 31.36 and a beta of 1.00.
Visa (NYSE:V) last posted its earnings results on Monday, October 24th. The credit-card processor reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. Visa had a net margin of 39.72% and a return on equity of 24.31%. The company had revenue of $4.26 billion for the quarter. During the same period in the previous year, the company earned $0.62 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post $3.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 18th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This is a positive change from Visa’s previous quarterly dividend of $0.14. This represents a $0.66 dividend on an annualized basis and a yield of 0.82%. Visa’s dividend payout ratio is 26.72%.
Several research analysts have issued reports on the company. Vetr cut Visa from a “buy” rating to a “hold” rating and set a $84.76 price objective for the company. in a research report on Monday, November 21st. Jefferies Group reiterated a “buy” rating on shares of Visa in a research report on Tuesday, November 15th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $90.00 price objective on shares of Visa in a research report on Thursday, October 27th. RBC Capital Markets reiterated an “outperform” rating and issued a $89.00 price objective (up previously from $87.00) on shares of Visa in a research report on Wednesday, October 26th. Finally, Royal Bank Of Canada raised their price target on Visa from $87.00 to $89.00 and gave the company an “outperform” rating in a research report on Tuesday, October 25th. Seven equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $90.84.
In other Visa news, President Ryan Mcinerney sold 18,500 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the sale, the president now directly owns 12,548 shares in the company, valued at $1,040,480.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles W. Scharf sold 772,912 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $82.65, for a total transaction of $63,881,176.80. Following the sale, the insider now owns 852,880 shares in the company, valued at $70,490,532. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Visa Company Profile
Visa Inc is a payments technology company. The Company and its subsidiaries, including Visa U.SA Inc (Visa U.SA), Visa International Service Association (Visa International), Visa Worldwide Pte. Limited, Visa Canada Corporation, Inovant LLC and CyberSource Corporation (CyberSource), operate a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions around the world.
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