Osborn Williams & Donohoe LLC Sells 1,556 Shares of Visa Inc. (V)
Osborn Williams & Donohoe LLC lowered its stake in Visa Inc. (NYSE:V) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,433 shares of the credit-card processor’s stock after selling 1,556 shares during the period. Visa accounts for 1.6% of Osborn Williams & Donohoe LLC’s holdings, making the stock its 18th largest position. Osborn Williams & Donohoe LLC’s holdings in Visa were worth $8,856,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Integrated Investment Consultants LLC boosted its position in shares of Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 20 shares during the period. Mercer Capital Advisers Inc. boosted its position in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares during the period. Smithfield Trust Co. boosted its position in shares of Visa by 0.3% in the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock valued at $804,000 after buying an additional 25 shares during the period. Harwood Advisory Group LLC boosted its position in shares of Visa by 0.9% in the second quarter. Harwood Advisory Group LLC now owns 2,765 shares of the credit-card processor’s stock valued at $259,000 after buying an additional 25 shares during the period. Finally, Sky Investment Group LLC boosted its position in shares of Visa by 0.9% in the second quarter. Sky Investment Group LLC now owns 2,685 shares of the credit-card processor’s stock valued at $252,000 after buying an additional 25 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.
Visa Inc. (NYSE:V) traded up 1.14% during trading on Wednesday, reaching $103.63. 3,515,786 shares of the company’s stock traded hands. The firm has a 50 day moving average of $98.13 and a 200 day moving average of $92.48. The firm has a market capitalization of $236.94 billion, a PE ratio of 38.54 and a beta of 0.94. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $103.75.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post $3.43 EPS for the current year.
Visa announced that its board has initiated a stock buyback program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. Visa’s dividend payout ratio is currently 24.54%.
A number of research analysts have weighed in on the stock. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a report on Tuesday, June 27th. Instinet lifted their price objective on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $100.00 price objective (up previously from $87.50) on shares of Visa in a report on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Finally, Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by company insiders.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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