James H. Hoffmeister Sells 6,480 Shares of Visa Inc (V) Stock
Visa Inc (NYSE:V) SVP James H. Hoffmeister sold 6,480 shares of Visa stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $151.00, for a total value of $978,480.00. Following the sale, the senior vice president now directly owns 6,480 shares of the company’s stock, valued at approximately $978,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of V opened at $154.20 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 1.50. Visa Inc has a one year low of $116.03 and a one year high of $154.69. The company has a market cap of $304.58 billion, a P/E ratio of 33.45, a PEG ratio of 1.73 and a beta of 1.00.
Visa (NYSE:V) last issued its earnings results on Wednesday, January 30th. The credit-card processor reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.05. The company had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Visa had a return on equity of 39.32% and a net margin of 50.61%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. As a group, equities analysts predict that Visa Inc will post 5.32 EPS for the current year.
A number of brokerages have issued reports on V. Wedbush boosted their price target on Visa from $150.00 to $162.00 and gave the company an “outperform” rating in a report on Thursday. reissued a “buy” rating on shares of Visa in a report on Tuesday, February 12th. SunTrust Banks reissued an “outperform” rating and issued a $250.00 price target on shares of Visa in a report on Friday, February 1st. Raymond James reissued an “outperform” rating and issued a $152.00 price target (down from $167.00) on shares of Visa in a report on Thursday, January 31st. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $160.00 price target on shares of Visa in a report on Thursday, January 31st. One investment analyst has rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $163.23.
A number of large investors have recently modified their holdings of the business. Highwater Wealth Management LLC acquired a new position in Visa during the 4th quarter worth about $33,000. Essex Investment Management Co. LLC acquired a new stake in Visa in the 4th quarter valued at about $33,000. Valley National Advisers Inc. raised its position in Visa by 158.7% in the 4th quarter. Valley National Advisers Inc. now owns 269 shares of the credit-card processor’s stock valued at $36,000 after purchasing an additional 165 shares in the last quarter. Ironwood Financial llc raised its position in Visa by 67.5% in the 4th quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock valued at $44,000 after purchasing an additional 135 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its position in Visa by 180.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 396 shares of the credit-card processor’s stock valued at $52,000 after purchasing an additional 255 shares in the last quarter. Institutional investors own 80.38% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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