Wimmer Associates 1 LLC decreased its stake in Visa Inc (NYSE:V) by 5.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 30,035 shares of the credit-card processor’s stock after selling 1,715 shares during the period. Visa accounts for 2.9% of Wimmer Associates 1 LLC’s portfolio, making the stock its 2nd biggest position. Wimmer Associates 1 LLC’s holdings in Visa were worth $3,161,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Welch Investments LLC acquired a new stake in Visa during the 3rd quarter worth $101,000. Cordasco Financial Network acquired a new stake in Visa during the 3rd quarter worth $105,000. Motco boosted its stake in Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares during the period. Massey Quick Simon & CO. LLC acquired a new stake in Visa during the 3rd quarter worth $110,000. Finally, BDO Wealth Advisors LLC acquired a new stake in Visa during the 2nd quarter worth $115,000. Institutional investors and hedge funds own 81.59% of the company’s stock.
In other Visa news, Director Robert W. Matschullat sold 6,220 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the transaction, the director now directly owns 57,368 shares in the company, valued at approximately $6,526,183.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lynne Biggar sold 1,712 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 59,780 shares of company stock valued at $6,802,702 over the last 90 days. 0.14% of the stock is currently owned by insiders.
Visa Inc (V) opened at $121.85 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60. Visa Inc has a twelve month low of $86.98 and a twelve month high of $126.88. The firm has a market cap of $276,140.00, a PE ratio of 40.35, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03.
Visa (NYSE:V) last posted its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. equities research analysts anticipate that Visa Inc will post 4.37 earnings per share for the current fiscal year.
Visa announced that its board has initiated a stock buyback program on Thursday, February 1st that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.21 per share. This is an increase from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, February 15th. Visa’s dividend payout ratio (DPR) is 27.81%.
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Visa Company Profile
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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