Visa Inc. (NYSE:V) Stake Trimmed by Provident Trust Co.

Provident Trust Co. lessened its stake in Visa Inc. (NYSE:V) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 1,428,219 shares of the credit-card processor’s stock after selling 4,625 shares during the period. Visa comprises approximately 7.6% of Provident Trust Co.’s portfolio, making the stock its 5th biggest holding. Provident Trust Co.’s holdings in Visa were worth $371,837,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. FMR LLC grew its position in shares of Visa by 4.7% in the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Visa by 4.7% in the third quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock worth $3,927,122,000 after buying an additional 763,505 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after acquiring an additional 374,489 shares during the period. Jennison Associates LLC grew its stake in Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after acquiring an additional 85,123 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in Visa by 1.5% during the 3rd quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock worth $1,734,835,000 after acquiring an additional 108,280 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Mizuho restated a “neutral” rating and issued a $265.00 target price on shares of Visa in a research note on Wednesday, March 27th. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday. Barclays upped their price objective on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, Raymond James lifted their target price on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $302.58.

Insider Buying and Selling at Visa

In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is currently owned by company insiders.

Visa Trading Down 0.2 %

NYSE V traded down $0.64 during trading on Friday, hitting $274.52. The company had a trading volume of 6,840,615 shares, compared to its average volume of 6,528,673. The company’s fifty day moving average is $279.24 and its 200-day moving average is $264.52. The company has a market cap of $504.16 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. Visa Inc. has a one year low of $216.14 and a one year high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same period last year, the business posted $2.09 earnings per share. Visa’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is 23.24%.

Visa 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.