Hayek Kallen Investment Management Sells 439 Shares of Visa Inc (NYSE:V)

Hayek Kallen Investment Management cut its position in Visa Inc (NYSE:V) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 22,556 shares of the credit-card processor’s stock after selling 439 shares during the period. Visa makes up 2.4% of Hayek Kallen Investment Management’s portfolio, making the stock its 14th biggest holding. Hayek Kallen Investment Management’s holdings in Visa were worth $3,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Berkeley Capital Partners LLC lifted its position in Visa by 1.5% during the second quarter. Berkeley Capital Partners LLC now owns 3,939 shares of the credit-card processor’s stock valued at $684,000 after purchasing an additional 57 shares during the period. Enterprise Financial Services Corp increased its stake in Visa by 0.8% during the second quarter. Enterprise Financial Services Corp now owns 7,649 shares of the credit-card processor’s stock valued at $1,328,000 after purchasing an additional 59 shares during the last quarter. Radnor Capital Management LLC grew its position in shares of Visa by 0.8% during the second quarter. Radnor Capital Management LLC now owns 8,060 shares of the credit-card processor’s stock worth $1,399,000 after acquiring an additional 60 shares during the last quarter. Lakeview Capital Partners LLC grew its position in shares of Visa by 1.5% during the third quarter. Lakeview Capital Partners LLC now owns 4,035 shares of the credit-card processor’s stock worth $694,000 after acquiring an additional 60 shares during the last quarter. Finally, Peninsula Wealth LLC grew its position in shares of Visa by 0.8% during the second quarter. Peninsula Wealth LLC now owns 7,608 shares of the credit-card processor’s stock worth $1,319,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 80.98% of the company’s stock.

V has been the subject of several recent research reports. Citigroup upped their price target on shares of Visa from $185.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Robert W. Baird set a $196.00 target price on Visa and gave the stock a “buy” rating in a research report on Friday, July 19th. Piper Jaffray Companies set a $207.00 target price on Visa and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Credit Suisse Group boosted their target price on Visa from $200.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, BMO Capital Markets boosted their target price on Visa from $231.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Visa has an average rating of “Buy” and an average price target of $199.04.

Shares of NYSE:V traded up $0.54 during trading on Friday, hitting $178.97. 3,777,681 shares of the company’s stock traded hands, compared to its average volume of 7,614,820. Visa Inc has a 52 week low of $121.60 and a 52 week high of $187.05. The company has a current ratio of 1.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. The company has a market cap of $349.90 billion, a price-to-earnings ratio of 32.90, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. The company has a 50-day moving average price of $176.22 and a 200-day moving average price of $173.43.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.04. Visa had a return on equity of 42.57% and a net margin of 52.57%. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $6.08 billion. During the same quarter in the previous year, the business posted $1.21 EPS. Visa’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, analysts predict that Visa Inc will post 6.21 earnings per share for the current fiscal year.

The firm also recently disclosed a dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. Visa’s dividend payout ratio (DPR) is presently 18.38%.

In other Visa news, insider Vasant M. Prabhu sold 25,051 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total value of $4,537,738.14. Following the sale, the insider now owns 62,223 shares in the company, valued at approximately $11,271,074.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $177.79, for a total value of $1,244,530.00. Following the completion of the sale, the chief executive officer now owns 55,446 shares in the company, valued at approximately $9,857,744.34. The disclosure for this sale can be found here. Insiders have sold a total of 53,215 shares of company stock worth $9,564,487 in the last quarter. 0.17% of the stock is currently owned by company insiders.

Visa Profile

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.

See Also: What is Cost of Debt?

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.