Redpoint Investment Management Pty Ltd Boosts Position in Visa Inc. (NYSE:V)


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Redpoint Investment Management Pty Ltd increased its holdings in shares of Visa Inc. (NYSE:V) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,910 shares of the credit-card processor’s stock after purchasing an additional 2,100 shares during the quarter. Visa makes up approximately 1.0% of Redpoint Investment Management Pty Ltd’s portfolio, making the stock its 16th biggest position. Redpoint Investment Management Pty Ltd’s holdings in Visa were worth $9,604,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of V. Newfound Research LLC purchased a new stake in Visa in the third quarter valued at approximately $31,000. Brand Asset Management Group Inc. lifted its stake in Visa by 52.7% in the third quarter. Brand Asset Management Group Inc. now owns 258 shares of the credit-card processor’s stock valued at $52,000 after buying an additional 89 shares during the last quarter. Catalyst Private Wealth LLC purchased a new stake in Visa in the third quarter valued at approximately $59,000. TFC Financial Management purchased a new stake in Visa in the third quarter valued at approximately $65,000. Finally, Provident Wealth Management LLC purchased a new stake in Visa in the third quarter valued at approximately $68,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

NYSE:V traded up $0.49 on Wednesday, hitting $209.35. 6,656,850 shares of the stock were exchanged, compared to its average volume of 8,152,269. The stock has a market cap of $407.94 billion, a PE ratio of 39.92, a PEG ratio of 2.59 and a beta of 0.91. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $211.57 and a 200-day moving average of $202.64. Visa Inc. has a fifty-two week low of $133.93 and a fifty-two week high of $220.39.

Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, October 28th. The credit-card processor reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.03. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. As a group, analysts predict that Visa Inc. will post 5.01 earnings per share for the current year.

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction dated Monday, November 30th. The stock was sold at an average price of $209.40, for a total value of $1,884,600.00. Following the completion of the sale, the chief executive officer now owns 132,660 shares in the company, valued at $27,779,004. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO James H. Hoffmeister sold 2,157 shares of the stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $208.87, for a total value of $450,532.59. The disclosure for this sale can be found here. Insiders have sold 80,205 shares of company stock valued at $17,188,463 over the last 90 days. 0.19% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on V. BidaskClub raised Visa from a “sell” rating to a “hold” rating in a report on Wednesday, December 30th. Morgan Stanley upped their price objective on Visa from $211.00 to $228.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Seaport Global Securities assumed coverage on Visa in a report on Monday, December 7th. They issued a “buy” rating and a $250.00 target price on the stock. Wedbush reissued a “buy” rating and issued a $220.00 target price on shares of Visa in a report on Monday, October 5th. Finally, Oppenheimer reissued a “buy” rating and issued a $212.00 target price (down previously from $233.00) on shares of Visa in a report on Thursday, October 29th. Six analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Visa has a consensus rating of “Buy” and a consensus target price of $220.41.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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