ZWJ Investment Counsel Inc. Cuts Stake in Visa Inc (V)
ZWJ Investment Counsel Inc. lowered its holdings in Visa Inc (NYSE:V) by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,621 shares of the credit-card processor’s stock after selling 3,060 shares during the quarter. ZWJ Investment Counsel Inc. owned 30.95% of Visa worth $6,801,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in V. iAB Financial Bank grew its position in Visa by 2.6% during the second quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock valued at $5,342,000 after buying an additional 1,423 shares during the period. Heritage Trust Co grew its position in Visa by 51.4% during the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock valued at $424,000 after buying an additional 1,535 shares during the period. Aviva PLC grew its position in Visa by 0.8% during the second quarter. Aviva PLC now owns 1,411,845 shares of the credit-card processor’s stock valued at $132,432,000 after buying an additional 11,662 shares during the period. Jacobi Capital Management LLC grew its position in Visa by 12.2% during the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock valued at $892,000 after buying an additional 1,016 shares during the period. Finally, Fundsmith LLP grew its position in Visa by 5.3% during the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock valued at $489,309,000 after buying an additional 262,930 shares during the period. Hedge funds and other institutional investors own 81.55% of the company’s stock.
Visa Inc (NYSE V) opened at $120.09 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $272,150.00, a PE ratio of 42.89, a PEG ratio of 1.75 and a beta of 0.99. Visa Inc has a 52 week low of $80.76 and a 52 week high of $120.48.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.05. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. Visa had a net margin of 44.08% and a return on equity of 30.89%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. research analysts anticipate that Visa Inc will post 4.08 EPS for the current year.
Several research firms recently commented on V. Jefferies Group restated a “buy” rating and set a $125.00 price target (up previously from $112.00) on shares of Visa in a research report on Tuesday, October 17th. Robert W. Baird restated an “outperform” rating and set a $128.00 price target (up previously from $122.00) on shares of Visa in a research report on Monday, October 2nd. Morgan Stanley raised their price target on shares of Visa from $125.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, October 26th. Barclays restated a “buy” rating and set a $145.00 price target on shares of Visa in a research report on Friday, January 5th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $120.00 price target on shares of Visa in a research report on Wednesday, October 25th. Four research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.03.
In other news, SVP James H. Hoffmeister sold 2,146 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now directly owns 687 shares of the company’s stock, valued at $77,005.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the completion of the transaction, the executive vice president now directly owns 76,202 shares in the company, valued at $8,661,119.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,068 shares of company stock worth $6,597,262. Insiders own 0.14% of the company’s stock.
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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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