Wesbanco Bank Inc. Purchases 342 Shares of Visa Inc. (NYSE:V)

Wesbanco Bank Inc. increased its position in Visa Inc. (NYSE:V) by 4.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,349 shares of the credit-card processor’s stock after acquiring an additional 342 shares during the period. Wesbanco Bank Inc.’s holdings in Visa were worth $2,926,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of V. Blue Rock Wealth Management LLC purchased a new position in Visa during the fourth quarter valued at $306,000. Aptus Capital Advisors LLC lifted its position in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock valued at $57,727,000 after purchasing an additional 30,185 shares in the last quarter. King Wealth Management Group lifted its position in Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after purchasing an additional 6,172 shares in the last quarter. Eagle Strategies LLC lifted its position in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after purchasing an additional 63 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new position in Visa during the fourth quarter valued at $10,163,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred 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 now directly owns 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,162 shares of company stock valued at $58,645,479. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

V has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They issued a “neutral” rating on the stock. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Macquarie lowered their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Finally, Evercore ISI started coverage on Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $372.80.

Visa Trading Down 0.9%

Shares of NYSE V opened at $366.72 on Tuesday. The business’s 50 day moving average is $345.86 and its two-hundred day moving average is $336.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $371.00. The stock has a market capitalization of $676.66 billion, a P/E ratio of 36.97, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the firm posted $2.51 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s dividend payout ratio is 23.72%.

Visa Company 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.