Profit Investment Management LLC Sells 1,580 Shares of Visa Inc. (V)
Profit Investment Management LLC reduced its stake in Visa Inc. (NYSE:V) by 8.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,052 shares of the credit-card processor’s stock after selling 1,580 shares during the period. Profit Investment Management LLC’s holdings in Visa were worth $1,604,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of V. Delta Asset Management LLC TN increased its position in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after buying an additional 38 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Visa during the first quarter valued at $153,000. Pacific Center for Financial Services acquired a new position in Visa during the fourth quarter valued at $138,000. SRS Capital Advisors Inc. acquired a new position in Visa during the fourth quarter valued at $160,000. Finally, Adirondack Trust Co. raised its position in Visa by 1.6% in the first quarter. Adirondack Trust Co. now owns 2,195 shares of the credit-card processor’s stock worth $195,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.
Visa Inc. (V) opened at 94.79 on Tuesday. Visa Inc. has a 12 month low of $73.25 and a 12 month high of $96.60. The firm’s 50-day moving average is $93.82 and its 200-day moving average is $87.45.
Visa (NYSE:V) last released its earnings results on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.07. Visa had a return on equity of 29.14% and a net margin of 28.78%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post $3.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Friday, May 19th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $0.66 annualized dividend and a dividend yield of 0.70%. Visa’s dividend payout ratio (DPR) is 33.00%.
V has been the subject of a number of analyst reports. Vetr lowered shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective for the company. in a research report on Monday, June 5th. CIBC raised their price objective on shares of Visa from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. BidaskClub lowered shares of Visa from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $104.00 price objective on shares of Visa in a research report on Saturday, March 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $95.73.
In other news, Vice Chairman Ellen Richey sold 31,260 shares of Visa stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total transaction of $2,874,044.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.
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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