Hollencrest Securities LLC Sells 1,000 Shares of Visa Inc. (V)
Hollencrest Securities LLC trimmed its position in Visa Inc. (NYSE:V) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,096 shares of the credit-card processor’s stock after selling 1,000 shares during the period. Hollencrest Securities LLC’s holdings in Visa were worth $1,322,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Mercer Capital Advisers Inc. grew its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after purchasing an additional 25 shares during the period. Smithfield Trust Co. grew its stake in Visa by 0.3% in the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock worth $804,000 after purchasing an additional 25 shares during the period. Nicolet Bankshares Inc. grew its stake in Visa by 0.3% in the first quarter. Nicolet Bankshares Inc. now owns 9,312 shares of the credit-card processor’s stock worth $828,000 after purchasing an additional 27 shares during the period. Sequoia Financial Advisors LLC grew its stake in Visa by 0.5% in the first quarter. Sequoia Financial Advisors LLC now owns 5,994 shares of the credit-card processor’s stock worth $533,000 after purchasing an additional 27 shares during the period. Finally, Delta Asset Management LLC TN grew its stake in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after purchasing an additional 38 shares during the period. 81.68% of the stock is currently owned by institutional investors.
In related news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
V has been the topic of several analyst reports. UBS AG reissued an “overweight” rating on shares of Visa in a report on Thursday, August 24th. Deutsche Bank AG boosted their target price on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Vetr downgraded Visa from a “hold” rating to a “sell” rating and set a $92.84 target price on the stock. in a report on Monday, June 5th. Nomura boosted their target price on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, KeyCorp reissued a “buy” rating and issued a $110.00 target price on shares of Visa in a report on Friday, August 25th. Three research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average target price of $107.47.
Shares of Visa Inc. (NYSE V) traded up 0.66% during mid-day trading on Thursday, reaching $104.58. The company’s stock had a trading volume of 2,586,664 shares. The firm’s 50-day moving average price is $103.15 and its 200 day moving average price is $95.55. The firm has a market cap of $239.11 billion, a P/E ratio of 38.89 and a beta of 0.94. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $106.84. Visa also was the target of some unusual options trading on Monday. Stock investors purchased 11,725 put options on the stock. This is an increase of approximately 159% compared to the average daily volume of 4,519 put options.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, analysts expect that Visa Inc. will post $3.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. Visa’s dividend payout ratio (DPR) is presently 24.54%.
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Visa Company Profile
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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