Whitnell & Co. Cuts Stake in Visa Inc (NYSE:V)

Whitnell & Co. lessened its stake in Visa Inc (NYSE:V) by 9.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 718 shares of the credit-card processor’s stock after selling 78 shares during the period. Whitnell & Co.’s holdings in Visa were worth $124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of V. Nuveen Asset Management LLC boosted its holdings in Visa by 3,715.7% in the second quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock worth $2,827,471,000 after acquiring an additional 15,864,991 shares in the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Visa by 17,806.8% during the second quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock worth $334,695,000 after purchasing an additional 3,328,260 shares during the period. BlackRock Inc. lifted its holdings in shares of Visa by 2.3% during the second quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock worth $21,483,952,000 after purchasing an additional 2,773,330 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Visa by 92.0% during the second quarter. Prudential Financial Inc. now owns 3,898,728 shares of the credit-card processor’s stock worth $676,625,000 after purchasing an additional 1,868,089 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Visa by 1.1% during the second quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock worth $25,507,824,000 after purchasing an additional 1,615,505 shares during the period. Institutional investors own 80.98% of the company’s stock.

Shares of Visa stock traded up $0.57 during trading hours on Monday, hitting $179.54. The company’s stock had a trading volume of 3,608,256 shares, compared to its average volume of 7,596,444. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05. The firm has a fifty day moving average of $176.22 and a 200-day moving average of $173.43. The stock has a market cap of $349.90 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 1.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.69 and a current ratio of 1.56.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 EPS 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 analyst estimates of $6.08 billion. During the same quarter in the prior year, the company posted $1.21 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc will post 6.21 earnings per share for the current fiscal year.

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

In related news, EVP William M. Sheedy sold 21,164 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $178.71, for a total transaction of $3,782,218.44. Following the transaction, the executive vice president now owns 227,126 shares of the company’s stock, valued at approximately $40,589,687.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Vasant M. Prabhu sold 25,051 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 62,223 shares in the company, valued at approximately $11,271,074.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,215 shares of company stock worth $9,564,487. Corporate insiders own 0.17% of the company’s stock.

A number of equities research analysts recently commented on V shares. Robert W. Baird set a $196.00 target price on Visa and gave the stock a “buy” rating in a report on Friday, July 19th. Wedbush set a $187.00 target price on Visa and gave the stock a “buy” rating in a report on Tuesday, September 24th. Nomura lifted their target price on Visa from $178.00 to $204.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Piper Jaffray Companies set a $207.00 target price on Visa and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $207.00 target price on shares of Visa in a 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’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $199.04.

Visa Company 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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