Visa Inc (V) Shares Sold by Northstar Capital Management LLC
Northstar Capital Management LLC reduced its stake in Visa Inc (NYSE:V) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,443 shares of the credit-card processor’s stock after selling 3,044 shares during the period. Visa makes up approximately 7.4% of Northstar Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. Northstar Capital Management LLC’s holdings in Visa were worth $8,403,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of V. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in Visa by 297.5% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 94,328 shares of the credit-card processor’s stock worth $12,494,000 after purchasing an additional 70,600 shares during the last quarter. Sandler Capital Management lifted its stake in Visa by 13.8% during the second quarter. Sandler Capital Management now owns 267,327 shares of the credit-card processor’s stock worth $35,407,000 after purchasing an additional 32,330 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in Visa by 8.6% during the second quarter. Zurich Insurance Group Ltd FI now owns 376,524 shares of the credit-card processor’s stock worth $49,871,000 after purchasing an additional 29,661 shares during the last quarter. Centaurus Financial Inc. lifted its stake in Visa by 50.8% during the second quarter. Centaurus Financial Inc. now owns 19,939 shares of the credit-card processor’s stock worth $2,641,000 after purchasing an additional 6,714 shares during the last quarter. Finally, grace capital bought a new stake in Visa during the second quarter worth $3,142,000. Institutional investors and hedge funds own 80.38% of the company’s stock.
NYSE V opened at $143.93 on Friday. The firm has a market capitalization of $294.52 billion, a P/E ratio of 31.22, a P/E/G ratio of 1.57 and a beta of 1.11. Visa Inc has a twelve month low of $106.60 and a twelve month high of $151.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.69.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Friday, November 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.69%. This is an increase from Visa’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, November 15th. Visa’s dividend payout ratio is presently 18.22%.
In related news, EVP William M. Sheedy sold 99,636 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total value of $13,877,302.08. Following the completion of the sale, the executive vice president now directly owns 296,925 shares in the company, valued at $41,355,714. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.
A number of brokerages have recently commented on V. Oppenheimer increased their price target on Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a research note on Tuesday, July 17th. Wolfe Research began coverage on Visa in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. Bank of America increased their price target on Visa from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, July 17th. Morgan Stanley increased their price target on Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a research note on Thursday, July 19th. Finally, Raymond James reiterated an “outperform” rating and issued a $165.00 price target on shares of Visa in a research note on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $155.47.
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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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