Premier Fund Managers Ltd Sells 25,360 Shares of Visa Inc. $V

Premier Fund Managers Ltd lessened its position in Visa Inc. (NYSE:V) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 269,384 shares of the credit-card processor’s stock after selling 25,360 shares during the quarter. Visa comprises about 3.8% of Premier Fund Managers Ltd’s investment portfolio, making the stock its biggest position. Premier Fund Managers Ltd’s holdings in Visa were worth $91,660,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sagard Holdings Management Inc. acquired a new position in shares of Visa during the 2nd quarter worth about $31,000. Bare Financial Services Inc increased its position in Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares during the period. Quaker Wealth Management LLC increased its position in Visa by 202.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock worth $40,000 after buying an additional 225 shares during the period. Winnow Wealth LLC acquired a new position in shares of Visa during the second quarter worth approximately $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Visa in the second quarter valued at approximately $41,000. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on V shares. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Raymond James Financial restated an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price for the company in a research note on Thursday, December 11th. Cantor Fitzgerald raised Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Macquarie Infrastructure restated an “outperform” rating and set a $410.00 price target on shares of Visa in a research note on Friday, January 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $391.43.

Visa Price Performance

NYSE:V opened at $320.90 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50-day moving average of $336.40 and a 200-day moving average of $338.96. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a market capitalization of $582.49 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.84 and a beta of 0.79.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. The firm had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio is 25.14%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.12% of the stock is owned by corporate insiders.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.