Capital International Investors Lowers Position in Visa Inc (NYSE:V)
Capital International Investors lessened its stake in Visa Inc (NYSE:V) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,631,460 shares of the credit-card processor’s stock after selling 597,757 shares during the period. Visa comprises approximately 1.3% of Capital International Investors’ investment portfolio, making the stock its 14th largest holding. Capital International Investors owned 1.05% of Visa worth $3,876,651,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora purchased a new position in shares of Visa during the 4th quarter valued at approximately $27,000. Sageworth Trust Co purchased a new position in shares of Visa during the 4th quarter valued at approximately $40,000. Lloyd Advisory Services LLC. purchased a new position in shares of Visa during the 4th quarter valued at approximately $43,000. TI Trust Inc. purchased a new position in shares of Visa during the 4th quarter valued at approximately $44,000. Finally, CXI Advisors purchased a new position in shares of Visa during the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 82.41% of the company’s stock.
Several research analysts recently commented on the company. SunTrust Banks reissued an “in-line” rating and issued a $230.00 price objective on shares of Visa in a research note on Friday, January 31st. KeyCorp reduced their price objective on Visa from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets reduced their price objective on Visa from $232.00 to $229.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Co increased their price objective on Visa from $213.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Compass Point assumed coverage on Visa in a research note on Thursday, December 5th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Visa currently has a consensus rating of “Buy” and an average target price of $214.15.
Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $1.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.46. Visa had a return on equity of 43.15% and a net margin of 52.60%. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same period last year, the company earned $1.30 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc will post 6.02 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This is an increase from Visa’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s dividend payout ratio (DPR) is 22.06%.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $189.31, for a total transaction of $1,325,170.00. Following the completion of the transaction, the chief executive officer now directly owns 150,514 shares in the company, valued at approximately $28,493,805.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rajat Taneja sold 10,685 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $208.29, for a total value of $2,225,578.65. Following the transaction, the insider now owns 282,318 shares of the company’s stock, valued at $58,804,016.22. The disclosure for this sale can be found here. Insiders sold a total of 39,371 shares of company stock valued at $7,814,759 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.
Visa Company Profile
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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