Today, Visa Inc. (V) Position Decreased by Suffolk Capital Management LLC

Today, Visa Inc. (V) Position Decreased by Suffolk Capital Management LLC
Suffolk Capital Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 0.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 66,074 shares of the credit-card processor’s stock after selling 454 shares during the period. Suffolk Capital Management LLC’s holdings in Visa were worth $5,464,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Squarepoint Ops LLC raised its stake in shares of Visa by 457.0% in the first quarter. Squarepoint Ops LLC now owns 32,113 shares of the credit-card processor’s stock worth $2,456,000 after buying an additional 26,348 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Visa by 15.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 171,354 shares of the credit-card processor’s stock worth $13,113,000 after buying an additional 22,994 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of Visa by 5.8% in the first quarter. First Republic Investment Management Inc. now owns 762,294 shares of the credit-card processor’s stock worth $58,299,000 after buying an additional 41,585 shares in the last quarter. Lebenthal Asset Management LLC purchased a new stake in shares of Visa during the first quarter worth about $668,000. Finally, Origin Asset Management LLP raised its stake in shares of Visa by 21.4% in the first quarter. Origin Asset Management LLP now owns 110,462 shares of the credit-card processor’s stock worth $8,448,000 after buying an additional 19,486 shares in the last quarter. Institutional investors and hedge funds own 79.94% of the company’s stock.

Visa Inc. (NYSE:V) traded up 0.70% during mid-day trading on Friday, hitting $80.13. The stock had a trading volume of 6,495,826 shares. The firm’s 50-day moving average is $81.58 and its 200 day moving average is $80.00. The company has a market cap of $187.50 billion, a price-to-earnings ratio of 31.66 and a beta of 1.00. Visa Inc. has a 12 month low of $66.12 and a 12 month high of $83.96.

Visa (NYSE:V) last issued its quarterly earnings results on Monday, October 24th. The credit-card processor reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.05. The company earned $4.26 billion during the quarter. Visa had a return on equity of 24.31% and a net margin of 39.72%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. Equities analysts anticipate that Visa Inc. will post $3.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Friday, November 18th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from Visa’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 16th. Visa’s dividend payout ratio (DPR) is presently 26.72%.

A number of equities research analysts recently issued reports on V shares. Deutsche Bank AG reissued a “buy” rating and issued a $87.00 target price on shares of Visa in a research report on Tuesday, September 6th. Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $84.76 price target on the stock. in a research report on Monday, November 21st. Guggenheim lowered Visa from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $90.00 to $97.00 in a research report on Tuesday, October 25th. Cowen and Company reaffirmed an “outperform” rating and set a $100.00 price target on shares of Visa in a research report on Tuesday, October 18th. Finally, Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Tuesday, October 4th. Seven investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Visa has an average rating of “Buy” and a consensus price target of $90.84.

In related news, President Ryan Mcinerney sold 18,500 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the completion of the sale, the president now directly owns 12,548 shares of the company’s stock, valued at $1,040,480.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles W. Scharf sold 772,912 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $82.65, for a total value of $63,881,176.80. Following the sale, the insider now directly owns 852,880 shares of the company’s stock, valued at $70,490,532. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

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