First Financial Bank Trust Division raised its stake in Visa Inc. (NYSE: V – Get Rating) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,267 shares of the credit-card processor’s stock after buying an additional 2,889 shares during the period. Visa makes up about 1.4% of First Financial Bank Trust Division’s investment portfolio, making its stock its 21st largest holding. First Financial Bank Trust Division’s holdings in Visa were worth $ 13,587,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. raised its stake in Visa by 1.9% during the 4th quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock valued at $ 27,962,374,000 after purchasing an additional 2,440,030 shares during the period. State Street Corp raised its stake in Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock valued at $ 16,154,022,000 after purchasing an additional 1,504,897 shares during the period. Morgan Stanley raised its stake in Visa by 1.3% during the 2nd quarter. Morgan Stanley now owns 41,708,994 shares of the credit-card processor’s stock valued at $ 9,752,396,000 after purchasing an additional 533,415 shares during the period. Geode Capital Management LLC raised its stake in Visa by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock valued at $ 6,416,486,000 after purchasing an additional 827,137 shares during the period. Finally, Alliancebernstein LP raised its stake in Visa by 11.5% during the 4th quarter. Alliancebernstein LP now owns 25,850,411 shares of the credit-card processor’s stock valued at $ 5,602,043,000 after purchasing an additional 2,659,845 shares during the period. 80.77% of the stock is currently owned by institutional investors.
A number of research firms have recently weighed in on V. Credit Suisse Group upped their price target on shares of Visa from $ 260.00 to $ 265.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Barclays dropped their price target on shares of Visa from $ 265.00 to $ 260.00 and set an “overweight” rating on the stock in a research note on Monday, April 4th. Citigroup dropped their price target on shares of Visa from $ 285.00 to $ 265.00 in a research note on Monday, April 25th. The Goldman Sachs Group began coverage on Visa shares in a research note on Tuesday, May 17th. They issued a “buy” rating and a $ 282.00 price target on the stock. Finally, Evercore ISI upped their price target on shares of Visa from $ 304.00 to $ 310.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Five research 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 company has a consensus rating of “Buy” and a consensus price target of $ 267.44.
V stock opened at $ 190.01 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Visa Inc. has a 52-week low of $ 185.91 and a 52-week high of $ 252.67. The company has a 50-day moving average of $ 206.37 and a two-hundred day moving average of $ 212.44. The stock has a market capitalization of $ 361.26 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 1.61 and a beta of 0.90.
Visa (NYSE: V – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The credit-card processor reported $ 1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 1.65 by $ 0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The company had revenue of $ 7.19 billion during the quarter, compared to analysts’ expectations of $ 6.82 billion. During the same period in the prior year, the company earned $ 1.38 earnings per share. The business’s quarterly revenue was up 25.5% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 7.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were issued a dividend of $ 0.375 per share. This represents a $ 1.50 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Thursday, May 12th. Visa’s dividend payout ratio (DPR) is 23.58%.
In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $ 210.38, for a total transaction of $ 1,893,420.00. Following the completion of the transaction, the chief executive officer now owns 162,887 shares of the company stock, valued at $ 34,268,167.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Ryan Mcinerney sold 6,467 shares of the company stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $ 223.65, for a total transaction of $ 1,446,344.55. The disclosure for this sale can be found here. Insiders have sold 39,933 shares of company stock valued at $ 8,745,055 over the last 90 days. Corporate insiders own 0.21% of the company stock.
Visa Company Profile: (Get Rating)
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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