Gillespie Robinson & Grimm Inc. Has $20,301,000 Position in Visa Inc. (V)
Gillespie Robinson & Grimm Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 0.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 244,232 shares of the credit-card processor’s stock after selling 1,740 shares during the period. Visa makes up 3.1% of Gillespie Robinson & Grimm Inc.’s portfolio, making the stock its 17th largest position. Gillespie Robinson & Grimm Inc.’s holdings in Visa were worth $20,301,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new position in Visa during the second quarter valued at $411,431,000. Bank of Montreal Can purchased a new position in Visa during the second quarter valued at $262,163,000. Capital International Investors boosted its position in Visa by 19.7% in the second quarter. Capital International Investors now owns 9,156,501 shares of the credit-card processor’s stock valued at $679,138,000 after buying an additional 1,504,167 shares during the last quarter. Carmignac Gestion boosted its position in Visa by 20.8% in the second quarter. Carmignac Gestion now owns 8,224,233 shares of the credit-card processor’s stock valued at $609,991,000 after buying an additional 1,418,029 shares during the last quarter. Finally, Hitchwood Capital Management LP purchased a new position in Visa during the second quarter valued at $103,838,000. 79.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE:V) traded down 1.39% during midday trading on Wednesday, hitting $78.05. 3,443,889 shares of the stock were exchanged. The stock has a 50 day moving average price of $81.48 and a 200-day moving average price of $80.04. Visa Inc. has a 12 month low of $66.12 and a 12 month high of $83.96. The company has a market cap of $182.64 billion, a PE ratio of 30.84 and a beta of 1.00.
Visa (NYSE:V) last released its earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. The company had revenue of $4.26 billion for the quarter. Visa had a net margin of 39.72% and a return on equity of 24.31%. Visa’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 earnings per share. On average, analysts predict that Visa Inc. will post $3.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 18th will be issued a dividend of $0.165 per share. The ex-dividend date 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 0.83%. Visa’s dividend payout ratio is 26.72%.
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V has been the topic of several research analyst reports. Deutsche Bank AG reissued a “buy” rating and set a $87.00 price target on shares of Visa in a report on Tuesday, September 6th. Vetr cut Visa from a “buy” rating to a “hold” rating and set a $84.76 target price on the stock. in a report on Monday, November 21st. Cowen and Company reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Visa in a report on Tuesday, October 18th. Guggenheim cut Visa from a “buy” rating to a “neutral” rating and raised their target price for the stock from $90.00 to $97.00 in a report on Tuesday, October 25th. Finally, Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Tuesday, October 4th. Seven research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Visa currently has a consensus rating of “Buy” and an average price target of $90.84.
In related news, President Ryan Mcinerney sold 18,500 shares of the stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $82.92, for a total value of $1,534,020.00. Following the transaction, the president now directly owns 12,548 shares of the company’s stock, valued at approximately $1,040,480.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charles W. Scharf sold 772,912 shares of the stock in a transaction on Friday, October 28th. The shares were sold at an average price of $82.65, for a total transaction of $63,881,176.80. Following the completion of the transaction, the insider now directly 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 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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