Gillespie Robinson & Grimm Inc. Lowers Stake in Visa Inc. (V)
Gillespie Robinson & Grimm Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 275,915 shares of the credit-card processor’s stock after selling 747 shares during the period. Visa accounts for approximately 3.5% of Gillespie Robinson & Grimm Inc.’s holdings, making the stock its 10th biggest holding. Gillespie Robinson & Grimm Inc.’s holdings in Visa were worth $25,875,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clearbridge Investments LLC boosted its position in Visa by 41.4% during the 1st quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after purchasing an additional 2,677,533 shares during the period. Swiss National Bank boosted its position in Visa by 23.2% during the 1st quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock worth $654,121,000 after purchasing an additional 1,388,200 shares during the period. Akre Capital Management LLC boosted its position in Visa by 35.0% during the 1st quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock worth $434,487,000 after purchasing an additional 1,267,080 shares during the period. Karp Capital Management Corp boosted its position in Visa by 3,256.5% during the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock worth $86,248,000 after purchasing an additional 941,581 shares during the period. Finally, MUFG Securities EMEA plc boosted its position in Visa by 7.0% during the 1st quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock worth $1,045,864,000 after purchasing an additional 775,000 shares during the period. 81.68% of the stock is owned by institutional investors.
A number of analysts recently weighed in on V shares. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a research report on Monday, May 29th. Deutsche Bank AG boosted their price objective on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Vetr lowered shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective on the stock. in a report on Monday, June 5th. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective (up previously from $96.00) on shares of Visa in a report on Tuesday, June 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $104.00 price objective on shares of Visa in a report on Sunday, June 25th. Four research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $105.52.
Visa Inc. (NYSE V) traded up 0.14% on Friday, hitting $105.46. 1,751,861 shares of the stock traded hands. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $106.84. The stock has a 50-day moving average price of $103.15 and a 200 day moving average price of $95.55. The stock has a market cap of $241.13 billion, a P/E ratio of 39.22 and a beta of 0.94.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. On average, equities analysts expect that Visa Inc. will post $3.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.63%. The ex-dividend date was Wednesday, August 16th. Visa’s payout ratio is presently 24.54%.
In other news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
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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