PNC Financial Services Group Inc. lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 9.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,793,902 shares of the credit-card processor's stock after selling 288,515 shares during the quarter. Visa comprises 0.5% of PNC Financial Services Group Inc.'s investment portfolio, making the stock its 24th biggest holding. PNC Financial Services Group Inc. owned about 0.15% of Visa worth $979,151,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. FWL Investment Management LLC grew its stake in shares of Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after purchasing an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. grew its stake in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. Semus Wealth Partners LLC grew its stake in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. grew its stake in shares of Visa by 3.6% in the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after purchasing an additional 30 shares during the last quarter. Finally, Headinvest LLC grew its stake in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
Insiders Place Their Bets
In other news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,913 shares of company stock valued at $32,902,432. Insiders own 0.13% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on V shares. William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Macquarie lifted their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, UBS Group reissued a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $380.84.
Check Out Our Latest Research Report on Visa
Visa Stock Performance
Shares of V stock opened at $338.81 on Friday. The stock has a fifty day moving average price of $355.06 and a 200 day moving average price of $346.34. The stock has a market cap of $625.16 billion, a PE ratio of 33.09, a P/E/G ratio of 2.30 and a beta of 0.94. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.12.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. Visa's revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is 23.05%.
About Visa
(
Free Report)
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
Further Reading
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