Zurcher Kantonalbank Zurich Cantonalbank Sells 87,550 Shares of Visa Inc. $V

Key Points

• Zurcher Kantonalbank trimmed its Visa stake by 6.8% in Q4, selling 87,550 shares and now holds 1,198,463 shares worth roughly $420.31 million, making Visa about 0.9% of the bank’s portfolio and its 15th largest position.
• Visa beat quarterly estimates (EPS $3.17 vs. $3.14; revenue $10.90B, +14.6% y/y), pays a $0.67 quarterly dividend (0.9% yield), and carries a consensus analyst rating of Buy with an average price target of $388.25.

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,198,463 shares of the credit-card processor's stock after selling 87,550 shares during the period. Visa makes up approximately 0.9% of Zurcher Kantonalbank Zurich Cantonalbank's investment portfolio, making the stock its 15th largest position. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Visa worth $420,313,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Clayton Financial Group LLC boosted its holdings in shares of Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock worth $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp boosted its holdings in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock worth $26,000 after acquiring an additional 38 shares during the period. Parvin Asset Management LLC boosted its holdings in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after acquiring an additional 50 shares during the period. Dorato Capital Management bought a new stake in shares of Visa during the fourth quarter worth approximately $30,000. Finally, Imprint Wealth LLC bought a new stake in shares of Visa in the third quarter valued at approximately $39,000. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other Visa news, Director Lloyd Carney sold 650 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares in the company, valued at $829,471.98. The trade was a 19.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the subject of several recent research reports. UBS Group cut their price target on Visa from $425.00 to $390.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Cantor Fitzgerald upgraded Visa to a "strong-buy" rating in a research note on Tuesday, January 27th. BMO Capital Markets initiated coverage on Visa in a research note on Tuesday. They issued an "outperform" rating and a $365.00 price target for the company. Daiwa Securities Group upgraded Visa from a "neutral" rating to an "outperform" rating and set a $370.00 price target for the company in a research note on Monday, February 2nd. Finally, Weiss Ratings cut Visa from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. Six analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of "Buy" and an average price target of $388.25.

Visa Trading Down 1.3%

Shares of V stock opened at $309.84 on Wednesday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $375.51. The stock has a market cap of $562.42 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $310.65 and a 200 day simple moving average of $328.70.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the business earned $2.75 earnings per share. The company's revenue was up 14.6% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 12.84 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, February 10th. Visa's payout ratio is currently 25.14%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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