Pacad Investment Ltd. Reduces Stake in Visa Inc (V)
Pacad Investment Ltd. cut its stake in Visa Inc (NYSE:V) by 48.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,876 shares of the credit-card processor’s stock after selling 119,464 shares during the period. Visa accounts for approximately 1.2% of Pacad Investment Ltd.’s holdings, making the stock its 5th largest position. Pacad Investment Ltd.’s holdings in Visa were worth $9,821,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of V. Searle & CO. raised its position in shares of Visa by 455.9% in the third quarter. Searle & CO. now owns 22,790 shares of the credit-card processor’s stock worth $1,885,000 after buying an additional 18,690 shares during the period. Advisory Services Network LLC raised its position in shares of Visa by 37.4% in the third quarter. Advisory Services Network LLC now owns 16,168 shares of the credit-card processor’s stock worth $1,337,000 after buying an additional 4,402 shares during the period. Trust Co. of Oklahoma raised its position in shares of Visa by 1.1% in the third quarter. Trust Co. of Oklahoma now owns 46,314 shares of the credit-card processor’s stock worth $3,830,000 after buying an additional 502 shares during the period. Bremer Trust National Association raised its position in shares of Visa by 2.4% in the third quarter. Bremer Trust National Association now owns 20,578 shares of the credit-card processor’s stock worth $1,702,000 after buying an additional 487 shares during the period. Finally, Liberty Capital Management Inc. raised its position in shares of Visa by 4.0% in the third quarter. Liberty Capital Management Inc. now owns 54,223 shares of the credit-card processor’s stock worth $4,485,000 after buying an additional 2,100 shares during the period. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Visa Inc (NYSE:V) opened at 89.18 on Tuesday. Visa Inc has a 52 week low of $72.77 and a 52 week high of $92.05. The stock has a market capitalization of $207.26 billion, a P/E ratio of 34.57 and a beta of 1.00. The company has a 50-day moving average price of $87.29 and a 200 day moving average price of $82.61.
Visa (NYSE:V) last released its earnings results on Thursday, February 2nd. The credit-card processor reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.08. The company earned $4.46 billion during the quarter, compared to the consensus estimate of $4.29 billion. Visa had a return on equity of 26.48% and a net margin of 38.30%. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. Analysts forecast that Visa Inc will post $3.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 7th. Stockholders of record on Friday, February 17th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s payout ratio is currently 26.09%.
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V has been the topic of a number of research analyst reports. Sanford C. Bernstein reissued an “outperform” rating and set a $104.00 price target on shares of Visa in a report on Saturday, March 11th. Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $83.18 price target on the stock. in a report on Wednesday, January 4th. Jefferies Group LLC reissued a “buy” rating and set a $93.00 price target on shares of Visa in a report on Friday, February 3rd. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. Finally, Guggenheim raised Visa from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.12 to $89.00 in a report on Monday, December 5th. One analyst has rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. Visa has an average rating of “Buy” and an average target price of $94.31.
In related news, SVP James H. Hoffmeister sold 11,139 shares of Visa stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $85.95, for a total transaction of $957,397.05. Following the completion of the sale, the senior vice president now directly owns 6,390 shares of the company’s stock, valued at $549,220.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP William M. Sheedy sold 125,372 shares of Visa stock in a transaction on Monday, February 6th. The stock was sold at an average price of $85.74, for a total value of $10,749,395.28. Following the sale, the executive vice president now directly owns 365,769 shares of the company’s stock, valued at $31,361,034.06. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
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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