Reilly Herbert Faulkner III Has $4,229,000 Stake in Visa Inc. (V)
Reilly Herbert Faulkner III increased its stake in Visa Inc. (NYSE:V) by 3.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,135 shares of the credit-card processor’s stock after buying an additional 1,736 shares during the period. Visa accounts for approximately 3.1% of Reilly Herbert Faulkner III’s portfolio, making the stock its 11th largest position. Reilly Herbert Faulkner III’s holdings in Visa were worth $4,229,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Iowa State Bank purchased a new stake in Visa during the second quarter valued at about $111,000. West Oak Capital LLC raised its stake 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. raised its stake 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 purchased a new stake in Visa during the second quarter valued at about $139,000. Finally, WealthTrust Arizona LLC raised its stake in Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock valued at $177,000 after buying an additional 21 shares during the last quarter. 79.52% of the stock is currently owned by institutional investors.
Shares of Visa Inc. (NYSE:V) traded down 2.31% on Wednesday, hitting $77.32. 15,322,771 shares of the stock were exchanged. The firm’s 50 day moving average price is $81.48 and its 200 day moving average price is $80.04. The firm has a market cap of $180.93 billion, a price-to-earnings ratio of 30.55 and a beta of 1.00. Visa Inc. has a one year low of $66.12 and a one year high of $83.96.
Visa (NYSE:V) last released its quarterly earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. The business earned $4.26 billion during the quarter. Visa had a net margin of 39.72% and a return on equity of 24.31%. Visa’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. Equities analysts anticipate that Visa Inc. will post $3.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Friday, November 18th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.85%. This is a positive change from Visa’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 16th. Visa’s dividend payout ratio (DPR) is presently 26.72%.
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V has been the topic of a number of research reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $94.00 price target on shares of Visa in a research note on Friday, August 5th. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $83.12 price target on the stock. in a research note on Monday, August 8th. Pacific Crest reaffirmed a “buy” rating and issued a $92.00 price target on shares of Visa in a research note on Thursday, August 25th. Robert W. Baird raised their price target on shares of Visa from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, September 6th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $87.00 price target on shares of Visa in a research note on Tuesday, September 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $90.84.
In other Visa 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 transaction of $1,534,020.00. Following the transaction, the president now directly owns 12,548 shares in the company, 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 hyperlink. 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 transaction, the insider now owns 852,880 shares in the company, valued at $70,490,532. The disclosure for this sale can be found here. Corporate 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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