Wells Trecaso Financial Group LLC Sells 13,762 Shares of Visa Inc. $V

Wells Trecaso Financial Group LLC cut its holdings in Visa Inc. (NYSE:V) by 44.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,025 shares of the credit-card processor’s stock after selling 13,762 shares during the quarter. Visa comprises 2.8% of Wells Trecaso Financial Group LLC’s portfolio, making the stock its 11th largest position. Wells Trecaso Financial Group LLC’s holdings in Visa were worth $5,812,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Visa by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after buying an additional 1,461,575 shares during the period. Geode Capital Management LLC raised its position in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares during the period. Norges Bank bought a new position in Visa during the 2nd quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. grew its holdings in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after purchasing an additional 2,429,996 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Visa by 1.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock valued at $4,552,057,000 after purchasing an additional 145,665 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $332.16 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.08. The firm has a market cap of $605.11 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 1.89 and a beta of 0.79. The stock’s 50-day moving average is $338.56 and its 200-day moving average is $341.08. Visa Inc. has a one year low of $299.00 and a one year high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the company earned $2.75 earnings per share. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is 25.14%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on V shares. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Macquarie reiterated an “outperform” rating and set a $410.00 target price on shares of Visa in a report on Friday, January 30th. Morgan Stanley reissued an “overweight” rating and issued a $411.00 target price (up from $398.00) on shares of Visa in a research note on Friday, January 30th. UBS Group restated a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Finally, HSBC upgraded Visa from a “hold” rating to a “buy” rating and lifted their price objective for the company from $335.00 to $389.00 in a report on Sunday, December 7th. Six research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $392.00.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.