PNC Financial Services Group Inc. Has $974.17 Million Stake in Visa Inc. (NYSE:V)

PNC Financial Services Group Inc. raised its position in shares of Visa Inc. (NYSE:V) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,082,417 shares of the credit-card processor’s stock after buying an additional 6,447 shares during the period. Visa comprises 0.7% of PNC Financial Services Group Inc.’s portfolio, making the stock its 25th biggest position. PNC Financial Services Group Inc. owned about 0.17% of Visa worth $974,167,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the third quarter worth approximately $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of Visa in the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on V. Raymond James reissued an “outperform” rating and issued a $393.00 price target (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Bank of America raised their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Oppenheimer reissued an “outperform” rating on shares of Visa in a report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $353.96.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,505 shares of company stock valued at $22,290,507. 0.13% of the stock is owned by corporate insiders.

Visa Trading Up 0.5 %

Shares of NYSE V opened at $345.79 on Friday. The company’s fifty day moving average is $336.18 and its 200-day moving average is $308.35. The stock has a market cap of $642.41 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 2.33 and a beta of 0.95. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio is currently 23.79%.

About Visa

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.