CENTRAL TRUST Co Increases Stake in Visa Inc. (NYSE:V)

CENTRAL TRUST Co boosted its stake in Visa Inc. (NYSE:VFree Report) by 0.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 78,405 shares of the credit-card processor’s stock after purchasing an additional 308 shares during the quarter. CENTRAL TRUST Co’s holdings in Visa were worth $21,881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after acquiring an additional 2,257,605 shares during the last quarter. Capital International Investors raised its holdings in Visa by 2.7% during the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after buying an additional 596,950 shares during the period. Capital World Investors lifted its position in Visa by 8.0% in the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after buying an additional 1,323,238 shares during the last quarter. Northern Trust Corp increased its position in Visa by 4.7% during the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after acquiring an additional 763,505 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Visa in the fourth quarter valued at $3,895,015,000. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on V. Raymond James boosted their price objective on Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Wells Fargo & Company lifted their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. TD Cowen initiated coverage on shares of Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price on the stock. Macquarie raised their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Evercore ISI increased their price objective on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.76.

Get Our Latest Report on Visa

Visa Stock Performance

NYSE V traded down $2.52 on Tuesday, reaching $276.02. 6,577,868 shares of the company’s stock traded hands, compared to its average volume of 6,366,592. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market cap of $504.82 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 1.92 and a beta of 0.95. The stock has a 50 day moving average price of $277.31 and a 200-day moving average price of $269.42.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the company posted $2.09 earnings per share. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is owned by company insiders.

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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