IBM Retirement Fund trimmed its holdings in Visa Inc (NYSE:V) by 13.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,053 shares of the credit-card processor’s stock after selling 5,057 shares during the period. Visa accounts for about 1.1% of IBM Retirement Fund’s holdings, making the stock its 12th biggest holding. IBM Retirement Fund’s holdings in Visa were worth $4,811,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Smith Asset Management Group LP raised its stake in shares of Visa by 15.0% during the second quarter. Smith Asset Management Group LP now owns 170,234 shares of the credit-card processor’s stock valued at $22,547,000 after acquiring an additional 22,190 shares during the last quarter. HC Financial Advisors Inc. bought a new position in shares of Visa during the second quarter valued at about $3,394,000. Northern Capital Management LLC raised its stake in shares of Visa by 166.5% during the second quarter. Northern Capital Management LLC now owns 17,350 shares of the credit-card processor’s stock valued at $2,298,000 after acquiring an additional 10,840 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Visa during the second quarter valued at about $2,621,000. Finally, Leisure Capital Management raised its stake in shares of Visa by 99.5% during the second quarter. Leisure Capital Management now owns 4,733 shares of the credit-card processor’s stock valued at $627,000 after acquiring an additional 2,360 shares during the last quarter. Institutional investors and hedge funds own 84.21% of the company’s stock.
V has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Visa in a research note on Monday, January 28th. They issued a “buy” rating and a $135.99 price target for the company. JPMorgan Chase & Co. reissued a “buy” rating and issued a $166.00 price target on shares of Visa in a research note on Thursday, October 25th. Barclays initiated coverage on shares of Visa in a research note on Wednesday, November 14th. They issued an “overweight” rating and a $170.00 price target for the company. Cantor Fitzgerald reissued a “buy” rating and issued a $160.00 price target on shares of Visa in a research note on Thursday, January 31st. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $178.00 price target on shares of Visa in a research note on Friday, December 21st. One research analyst has rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Visa has a consensus rating of “Buy” and a consensus price target of $162.77.
In related news, EVP William M. Sheedy sold 3,643 shares of the firm’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total transaction of $484,774.01. Following the completion of the transaction, the executive vice president now directly owns 241,983 shares of the company’s stock, valued at $32,200,677.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James H. Hoffmeister sold 2,252 shares of the firm’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $144.56, for a total transaction of $325,549.12. The disclosure for this sale can be found here. Insiders have sold a total of 19,759 shares of company stock worth $2,820,187 over the last 90 days. Insiders own 0.17% of the company’s stock.
Shares of V stock traded up $0.42 on Monday, hitting $140.80. 7,599,191 shares of the stock traded hands, compared to its average volume of 9,184,400. The company has a market capitalization of $281.80 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.60 and a beta of 0.97. Visa Inc has a 52 week low of $116.03 and a 52 week high of $151.56. 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 (NYSE:V) last announced its quarterly earnings data on Wednesday, January 30th. The credit-card processor reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.05. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.41 billion. Visa had a net margin of 50.61% and a return on equity of 39.32%. The company’s revenue was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. Equities research analysts expect that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Friday, February 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.71%. Visa’s payout ratio is 21.69%.
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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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