PNC Financial Services Group Inc. Raises Stock Position in Visa Inc. $V

PNC Financial Services Group Inc. lifted its stake in Visa Inc. (NYSE:V) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,824,681 shares of the credit-card processor’s stock after purchasing an additional 30,779 shares during the period. Visa accounts for about 0.6% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 25th biggest holding. PNC Financial Services Group Inc.’s holdings in Visa were worth $1,002,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. United Asset Strategies Inc. lifted its holdings in Visa by 7.8% in the second quarter. United Asset Strategies Inc. now owns 13,787 shares of the credit-card processor’s stock worth $4,895,000 after buying an additional 1,003 shares during the period. Tobam raised its position in shares of Visa by 24.2% in the 2nd quarter. Tobam now owns 2,307 shares of the credit-card processor’s stock worth $819,000 after acquiring an additional 450 shares in the last quarter. Wealth Alliance LLC lifted its stake in shares of Visa by 1.5% in the 2nd quarter. Wealth Alliance LLC now owns 12,126 shares of the credit-card processor’s stock valued at $4,305,000 after purchasing an additional 185 shares during the period. Bouchey Financial Group Ltd boosted its position in shares of Visa by 6.3% during the second quarter. Bouchey Financial Group Ltd now owns 2,052 shares of the credit-card processor’s stock valued at $729,000 after purchasing an additional 122 shares in the last quarter. Finally, Apex Wealth Management LLC grew its stake in Visa by 4.0% in the second quarter. Apex Wealth Management LLC now owns 908 shares of the credit-card processor’s stock worth $322,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on V. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Barclays reiterated an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie reduced their price target on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Trading Up 0.0%

Shares of V stock opened at $339.00 on Thursday. The company has a market cap of $621.32 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The stock’s 50 day simple moving average is $342.72 and its two-hundred day simple moving average is $348.78. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio is 23.11%.

Insider Transactions at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 23,897 shares of company stock valued at $8,164,561 in the last 90 days. Insiders own 0.13% of the company’s stock.

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.