Tealwood Asset Management Inc. trimmed its holdings in Visa Inc. (NYSE:V – Get Rating) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,911 shares of the credit-card processor’s stock after selling 150 shares during the period. Tealwood Asset Management Inc.’s holdings in Visa were worth $1,333,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Auxano Advisors LLC grew its holdings in Visa by 0.3% in the 4th quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock valued at $2,951,000 after buying an additional 45 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in Visa by 1.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock valued at $657,000 after buying an additional 45 shares during the last quarter. Domani Wealth LLC grew its holdings in Visa by 2.7% in the 4th quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock valued at $359,000 after buying an additional 46 shares during the last quarter. Pitti Group Wealth Management LLC grew its holdings in Visa by 1.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 3,802 shares of the credit-card processor’s stock valued at $790,000 after buying an additional 46 shares during the last quarter. Finally, S.C. Financial Services Inc. grew its holdings in Visa by 2.3% in the 4th quarter. S.C. Financial Services Inc. now owns 2,140 shares of the credit-card processor’s stock valued at $445,000 after buying an additional 49 shares during the last quarter. 84.92% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of Visa stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total value of $1,746,525.00. Following the completion of the sale, the chairman now directly owns 154,854 shares of the company’s stock, valued at approximately $36,060,850.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of Visa stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the completion of the sale, the chairman now directly owns 154,854 shares of the company’s stock, valued at $36,060,850.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 1,288 shares of Visa stock in a transaction on Friday, April 28th. The stock was sold at an average price of $232.97, for a total value of $300,065.36. Following the sale, the director now directly owns 2,542 shares of the company’s stock, valued at $592,209.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,277 shares of company stock valued at $27,018,374. Company insiders own 0.21% of the company’s stock.
Visa Trading Up 0.5 %
Visa (NYSE:V – Get Rating) last released its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.79 billion. Visa had a return on equity of 50.21% and a net margin of 50.95%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.79 EPS. Analysts predict that Visa Inc. will post 8.59 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were paid a $0.45 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.80 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio (DPR) is currently 24.06%.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on V shares. Raymond James raised their target price on Visa from $281.00 to $282.00 in a report on Wednesday, April 26th. Royal Bank of Canada raised their target price on Visa from $262.00 to $265.00 in a report on Wednesday, April 26th. Robert W. Baird raised their price objective on Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. StockNews.com began coverage on Visa in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Oppenheimer raised their price objective on Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $260.08.
Visa Profile
Visa Inc operates as a payments technology company worldwide. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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