First Midwest Bank Trust Division Decreases Holdings in Visa Inc. (NYSE:V)


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First Midwest Bank Trust Division trimmed its holdings in shares of Visa Inc. (NYSE:V) by 21.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,699 shares of the credit-card processor’s stock after selling 4,968 shares during the period. First Midwest Bank Trust Division’s holdings in Visa were worth $3,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Hexagon Capital Partners LLC increased its position in shares of Visa by 1.2% during the fourth quarter. Hexagon Capital Partners LLC now owns 3,984 shares of the credit-card processor’s stock worth $871,000 after purchasing an additional 48 shares in the last quarter. Cable Hill Partners LLC increased its position in shares of Visa by 4.3% during the fourth quarter. Cable Hill Partners LLC now owns 1,177 shares of the credit-card processor’s stock worth $257,000 after purchasing an additional 49 shares in the last quarter. Arthur M. Cohen & Associates LLC increased its position in shares of Visa by 1.4% during the fourth quarter. Arthur M. Cohen & Associates LLC now owns 3,744 shares of the credit-card processor’s stock worth $819,000 after purchasing an additional 50 shares in the last quarter. Westhampton Capital LLC increased its position in shares of Visa by 3.6% during the fourth quarter. Westhampton Capital LLC now owns 1,425 shares of the credit-card processor’s stock worth $312,000 after purchasing an additional 50 shares in the last quarter. Finally, AJ Wealth Strategies LLC increased its position in shares of Visa by 0.6% during the fourth quarter. AJ Wealth Strategies LLC now owns 8,003 shares of the credit-card processor’s stock worth $1,751,000 after purchasing an additional 50 shares in the last quarter. 80.50% of the stock is owned by institutional investors.

A number of analysts have recently commented on V shares. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 14th. Morgan Stanley lifted their target price on Visa from $233.00 to $253.00 and gave the stock an “overweight” rating in a research report on Monday, March 22nd. Sanford C. Bernstein assumed coverage on Visa in a research report on Tuesday, January 26th. They set an “outperform” rating and a $232.00 target price on the stock. KeyCorp boosted their price target on Visa from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, January 13th. Finally, Robert W. Baird restated a “buy” rating and issued a $256.00 price target on shares of Visa in a research report on Sunday, April 11th. Five investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Visa has an average rating of “Buy” and a consensus target price of $228.04.

V traded up $0.13 during trading on Friday, reaching $226.41. The company’s stock had a trading volume of 6,829,350 shares, compared to its average volume of 9,801,029. Visa Inc. has a 52-week low of $159.15 and a 52-week high of $228.23. The company’s fifty day moving average price is $216.91 and its 200-day moving average price is $208.29. The company has a market capitalization of $442.02 billion, a price-to-earnings ratio of 46.40, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.91 and a current ratio of 1.91.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 28th. The credit-card processor reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.14. Visa had a return on equity of 37.22% and a net margin of 49.74%. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 5.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 12th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, February 11th. Visa’s dividend payout ratio (DPR) is 25.40%.

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $212.55, for a total transaction of $1,912,950.00. Following the sale, the chief executive officer now owns 163,112 shares of the company’s stock, valued at approximately $34,669,455.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $210.00, for a total value of $2,350,530.00. Following the sale, the president now directly owns 11,193 shares in the company, valued at approximately $2,350,530. The disclosure for this sale can be found here. Insiders have sold a total of 93,093 shares of company stock worth $20,418,578 in the last three months. Corporate insiders own 0.19% of the company’s stock.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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