PNC Financial Services Group Inc. Buys 60,198 Shares of Visa Inc. $V

PNC Financial Services Group Inc. grew its position in shares of Visa Inc. (NYSE:V) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,884,879 shares of the credit-card processor’s stock after purchasing an additional 60,198 shares during the period. PNC Financial Services Group Inc. owned approximately 0.16% of Visa worth $984,840,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in V. Norges Bank bought a new stake in Visa in the 2nd quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. increased its position in Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC raised its stake in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after purchasing an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after buying an additional 1,461,575 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after buying an additional 1,067,631 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on V. Truist Financial set a $372.00 price target on shares of Visa in a report on Tuesday. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 target price (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Royal Bank Of Canada restated an “outperform” rating and set a $395.00 price target on shares of Visa in a report on Friday, January 30th. Evercore set a $380.00 price objective on shares of Visa in a research note on Friday, December 12th. Finally, Macquarie Infrastructure reiterated an “outperform” rating and set a $410.00 price objective on shares of Visa in a research report on Friday, January 30th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $392.21.

Visa Price Performance

V opened at $314.13 on Friday. The business has a fifty day moving average of $337.98 and a 200 day moving average of $339.81. The stock has a market cap of $570.19 billion, a P/E ratio of 29.47, a PEG ratio of 1.80 and a beta of 0.79. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last released its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the company earned $2.75 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio is currently 25.14%.

Visa Company Profile

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.