Visa Inc. (NYSE:V) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Visa Inc. by 10.0%, owning 1,237,141 shares worth approximately $433.6 million.
• Several hedge funds have also significantly boosted their stakes in Visa, with Brighton Jones LLC and Revolve Wealth Partners LLC increasing theirs by 50.1% and 68.9% respectively in the fourth quarter.
• Visa announced a quarterly dividend of $0.59 per share, translating to an annual yield of 0.66% and a payout ratio of 23.72%.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Visa Inc. (NYSE:V - Free Report) by 10.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,237,141 shares of the credit-card processor's stock after acquiring an additional 112,155 shares during the period. Visa comprises approximately 1.2% of Zurcher Kantonalbank Zurich Cantonalbank's portfolio, making the stock its 13th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Visa worth $433,568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FWL Investment Management LLC increased its holdings in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after buying an additional 29 shares during the period. Yeomans Consulting Group Inc. boosted its position 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 worth $360,000 after purchasing an additional 29 shares in the last quarter. Capstone Financial Advisors Inc. lifted its position in 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 acquiring an additional 30 shares in the last quarter. Headinvest LLC lifted its position in 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 acquiring an additional 30 shares in the last quarter. Finally, Kennebec Savings Bank raised its stake in Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of Visa stock traded up $1.83 during trading hours on Wednesday, reaching $353.12. The stock had a trading volume of 6,087,117 shares, compared to its average volume of 6,558,146. The stock's 50 day moving average is $355.76 and its 200 day moving average is $345.83. The firm has a market capitalization of $651.56 billion, a PE ratio of 35.49, a PEG ratio of 2.40 and a beta of 0.92. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

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 for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 earnings per share. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday. Macquarie reduced their price objective on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $377.16.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last 90 days. Corporate insiders own 0.13% of the company's stock.

Visa Profile

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.