Mackay Shields LLC trimmed its holdings in shares of Visa Inc (NYSE:V) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 525,385 shares of the credit-card processor’s stock after selling 52,288 shares during the period. Visa comprises 0.7% of Mackay Shields LLC’s investment portfolio, making the stock its 15th biggest holding. Mackay Shields LLC’s holdings in Visa were worth $98,720,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. OLD Second National Bank of Aurora purchased a new position in shares of Visa during the 4th quarter worth approximately $27,000. Sageworth Trust Co purchased a new position in Visa in the 4th quarter valued at approximately $40,000. TI Trust Inc. purchased a new position in Visa in the 4th quarter valued at approximately $44,000. CXI Advisors purchased a new position in Visa in the 4th quarter valued at approximately $45,000. Finally, Price Capital Management Inc. purchased a new position in Visa in the 4th quarter valued at approximately $57,000. 79.26% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Lynne Biggar sold 5,500 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $211.18, for a total transaction of $1,161,490.00. Following the sale, the executive vice president now owns 19,370 shares in the company, valued at $4,090,556.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William M. Sheedy sold 13,206 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $181.78, for a total value of $2,400,586.68. Following the sale, the executive vice president now owns 254,060 shares in the company, valued at approximately $46,183,026.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,577 shares of company stock worth $8,997,065. 0.19% of the stock is owned by insiders.
Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $1.46 EPS for the quarter, meeting analysts’ consensus estimates of $1.46. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Visa had a return on equity of 43.15% and a net margin of 52.60%. Visa’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, research analysts predict that Visa Inc will post 6.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Friday, February 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, February 13th. This is a boost from Visa’s previous quarterly dividend of $0.25. Visa’s dividend payout ratio is 22.06%.
Several equities analysts recently weighed in on V shares. Citigroup raised their price objective on Visa from $209.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald raised their price objective on Visa from $200.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Nomura reaffirmed a “buy” rating and issued a $233.00 price objective on shares of Visa in a research note on Monday, January 20th. Wells Fargo & Co raised their price objective on Visa from $213.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Macquarie started coverage on Visa in a research note on Tuesday, January 21st. They issued an “outperform” rating and a $250.00 price objective for the company. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Visa currently has a consensus rating of “Buy” and a consensus target price of $217.62.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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