William M. Sheedy Sells 99,636 Shares of Visa Inc (V) Stock

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Visa Inc (NYSE:V) EVP William M. Sheedy sold 99,636 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the transaction, the executive vice president now owns 296,925 shares of the company’s stock, valued at $41,355,714. The sale was disclosed in a legal filing with the SEC, which is available at this link.

V traded up $0.02 during trading on Monday, reaching $139.80. 6,279,407 shares of the company’s stock were exchanged, compared to its average volume of 8,111,141. Visa Inc has a one year low of $106.60 and a one year 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 firm has a market capitalization of $284.35 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.52 and a beta of 1.11.

Visa (NYSE:V) last posted its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.44 billion. As a group, equities research analysts predict that Visa Inc will post 5.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.72%. This is a positive change from Visa’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, November 15th. Visa’s payout ratio is presently 18.22%.

A number of institutional investors and hedge funds have recently bought and sold shares of V. Fort L.P. acquired a new position in shares of Visa during the 2nd quarter valued at $120,000. Cascade Investment Advisors Inc. acquired a new position in shares of Visa during the 2nd quarter valued at $132,000. Bridgeworth LLC acquired a new position in shares of Visa during the 2nd quarter valued at $143,000. Ruggie Capital Group acquired a new position in shares of Visa during the 2nd quarter valued at $164,000. Finally, Signature Estate & Investment Advisors LLC lifted its position in shares of Visa by 36.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock valued at $180,000 after acquiring an additional 365 shares during the period. 80.38% of the stock is currently owned by hedge funds and other institutional investors.

V has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research report on Tuesday, September 25th. Morgan Stanley upped their price objective on shares of Visa from $142.00 to $165.00 and gave the stock a “$140.13” rating in a research report on Thursday, July 19th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $166.00 price objective on shares of Visa in a research report on Thursday, October 25th. Royal Bank of Canada upped their price objective on shares of Visa to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Finally, Raymond James reiterated an “outperform” rating and set a $165.00 price objective on shares of Visa in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $155.47.

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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.

Further Reading: Rule of 72

Insider Buying and Selling by Quarter for Visa (NYSE:V)

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