Visa Inc. $V Position Lessened by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC lowered its position in Visa Inc. (NYSE:V) by 44.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,025 shares of the credit-card processor’s stock after selling 13,762 shares during the quarter. Visa makes up approximately 2.8% of Wells Trecaso Financial Group LLC’s holdings, making the stock its 11th biggest position. Wells Trecaso Financial Group LLC’s holdings in Visa were worth $5,812,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of V. Vanguard Group Inc. boosted its holdings in Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC increased its position in 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 during the period. Norges Bank bought a new stake in shares of Visa in the second quarter valued at about $7,034,939,000. TCI Fund Management Ltd. increased its stake in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Visa by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after purchasing an additional 145,665 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Rothschild Redb raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Redburn Partners set a $385.00 price objective on Visa in a research note on Wednesday, January 28th. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Finally, HSBC upgraded Visa from a “hold” rating to a “buy” rating and upped their price target for the company from $335.00 to $389.00 in a research report on Sunday, December 7th. Six analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $392.00.

Visa Stock Performance

Visa stock opened at $332.16 on Friday. The stock has a 50-day simple moving average of $338.56 and a 200 day simple moving average of $341.08. The stock has a market capitalization of $605.11 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 1.89 and a beta of 0.79. The company has a quick ratio of 1.08, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share 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 firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter last year, the company posted $2.75 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s payout ratio is 25.14%.

Insider Buying and Selling at Visa

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

Visa 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.