Visa Inc (NYSE:V) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC cut its holdings in Visa Inc (NYSE:V) by 9.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,836 shares of the credit-card processor’s stock after selling 1,031 shares during the period. Sequoia Financial Advisors LLC’s holdings in Visa were worth $1,585,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Visa during the 4th quarter valued at about $3,303,463,000. M&G Investment Management Ltd. acquired a new position in Visa during the 4th quarter valued at about $235,333,000. Swiss National Bank boosted its stake in Visa by 20.4% during the 1st quarter. Swiss National Bank now owns 7,386,394 shares of the credit-card processor’s stock valued at $1,190,096,000 after purchasing an additional 1,250,400 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in Visa during the 1st quarter valued at about $182,892,000. Finally, Renaissance Technologies LLC boosted its stake in Visa by 1,683.4% during the 4th quarter. Renaissance Technologies LLC now owns 893,500 shares of the credit-card processor’s stock valued at $167,889,000 after purchasing an additional 843,400 shares during the period. 81.88% of the stock is owned by institutional investors and hedge funds.

Shares of V stock traded up $0.24 during trading hours on Friday, reaching $190.86. 5,581,642 shares of the stock traded hands, compared to its average volume of 9,964,502. Visa Inc has a 1-year low of $133.93 and a 1-year high of $214.17. The business has a fifty day moving average price of $173.48 and a 200 day moving average price of $183.49. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $370.47 billion, a PE ratio of 34.39, a PEG ratio of 3.03 and a beta of 0.92.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, April 30th. The credit-card processor reported $1.39 EPS for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. Visa had a net margin of 52.26% and a return on equity of 43.45%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. Research analysts expect that Visa Inc will post 4.99 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Thursday, May 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, May 13th. Visa’s payout ratio is presently 22.06%.

A number of research firms have commented on V. Robert W. Baird boosted their price target on shares of Visa from $166.00 to $175.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Cowen boosted their price target on shares of Visa from $189.00 to $196.00 and gave the stock an “outperform” rating in a research report on Wednesday. Guggenheim downgraded shares of Visa from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group downgraded shares of Visa from a “buy” rating to a “hold” rating and dropped their price target for the stock from $190.00 to $180.00 in a research report on Wednesday, April 15th. Finally, UBS Group dropped their price target on shares of Visa from $190.00 to $188.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Five equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $202.75.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $161.40, for a total transaction of $1,129,800.00. Following the transaction, the chief executive officer now directly owns 142,090 shares of the company’s stock, valued at $22,933,326. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 21,000 shares of company stock worth $3,620,540 over the last ninety days. 0.19% of the stock is currently owned by insiders.

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.

See Also: Ex-Dividend

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Institutional Ownership by Quarter for Visa (NYSE:V)

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