Davis R M Inc. Lowers Position in Visa Inc (V)
Davis R M Inc. trimmed its position in Visa Inc (NYSE:V) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 294,436 shares of the credit-card processor’s stock after selling 5,188 shares during the quarter. Visa makes up 1.6% of Davis R M Inc.’s portfolio, making the stock its 18th biggest position. Davis R M Inc.’s holdings in Visa were worth $44,192,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Fundsmith Equity Fund L.P. bought a new position in Visa during the second quarter worth about $757,597,000. Bank of Montreal Can bought a new position in Visa during the second quarter worth about $727,019,000. Vontobel Asset Management Inc. bought a new position in Visa during the second quarter worth about $471,495,000. FMR LLC boosted its holdings in Visa by 2.9% during the second quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock worth $11,320,026,000 after buying an additional 2,398,540 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. bought a new position in Visa during the second quarter worth about $268,605,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.
V has been the topic of a number of recent analyst reports. Bank of America raised their target price on Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a report on Monday, August 13th. Royal Bank of Canada raised their target price on Visa to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. Robert W. Baird raised their target price on Visa from $156.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, September 14th. Goldman Sachs Group cut Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price on the stock. in a report on Monday, September 17th. Finally, Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 target price on the stock in a report on Tuesday, September 25th. Two equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $156.09.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Visa had a return on equity of 38.00% and a net margin of 49.98%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.44 billion. As a group, equities analysts expect that Visa Inc will post 5.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th were paid a $0.25 dividend. This is a boost from Visa’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, November 15th. This represents a $1.00 annualized dividend and a yield of 0.71%. Visa’s payout ratio is presently 21.69%.
In other Visa news, SVP James H. Hoffmeister sold 2,252 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $144.56, for a total value of $325,549.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total value of $484,774.01. Following the completion of the sale, the executive vice president now owns 241,983 shares in the company, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. Insiders sold a total of 119,395 shares of company stock worth $16,697,489 in the last 90 days. Company insiders own 0.14% of the company’s stock.
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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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