Kornitzer Capital Management Inc. KS cut its stake in Visa (NYSE:V) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,188 shares of the credit-card processor’s stock after selling 24,090 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Visa were worth $13,362,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of V. Krilogy Financial LLC grew its position in Visa by 0.3% during the 2nd quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock worth $241,000 after acquiring an additional 7 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its position in Visa by 0.5% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock valued at $739,000 after buying an additional 38 shares during the last quarter. Westside Investment Management Inc. boosted its position in Visa by 2.4% in the 2nd quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock valued at $160,000 after buying an additional 40 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in Visa by 1.3% in the 2nd quarter. Arete Wealth Advisors LLC now owns 4,252 shares of the credit-card processor’s stock valued at $399,000 after buying an additional 56 shares during the last quarter. Finally, Comerica Securities Inc. boosted its position in Visa by 0.4% in the 2nd quarter. Comerica Securities Inc. now owns 18,509 shares of the credit-card processor’s stock valued at $1,736,000 after buying an additional 72 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Lynne Biggar sold 1,712 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.
Shares of Visa stock opened at $117.70 on Friday. The firm has a market cap of $246,872.95, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99. Visa has a 12 month low of $88.13 and a 12 month high of $126.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. analysts expect that Visa will post 4.38 EPS for the current year.
Visa announced that its board has initiated a stock buyback plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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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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