1ST Source Bank Has $3.16 Million Position in Visa Inc. (NYSE:V)

1ST Source Bank lessened its stake in shares of Visa Inc. (NYSE:VFree Report) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,728 shares of the credit-card processor’s stock after selling 205 shares during the period. 1ST Source Bank’s holdings in Visa were worth $3,158,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hibernia Wealth Partners LLC acquired a new position in Visa during the 3rd quarter worth approximately $25,000. West Tower Group LLC bought a new position in shares of Visa in the second quarter valued at approximately $30,000. Financial Freedom LLC bought a new position in Visa during the fourth quarter valued at $32,000. Nalls Sherbakoff Group LLC grew its holdings in Visa by 545.5% during the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares during the period. Finally, FNY Investment Advisers LLC lifted its position in shares of Visa by 227.7% during the third quarter. FNY Investment Advisers LLC now owns 154 shares of the credit-card processor’s stock worth $35,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.

Visa Stock Down 0.2 %

Shares of V stock traded down $0.47 during trading hours on Monday, hitting $275.96. 1,627,606 shares of the company’s stock traded hands, compared to its average volume of 5,461,780. The stock’s fifty day simple moving average is $264.58 and its two-hundred day simple moving average is $249.42. Visa Inc. has a 12-month low of $208.76 and a 12-month high of $279.99. The stock has a market cap of $506.80 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 1.91 and a beta of 0.97. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The company had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same period in the previous year, the business earned $2.18 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 9.91 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, February 8th. Visa’s dividend payout ratio is currently 23.94%.

Insider Buying and Selling

In related news, insider Rajat Taneja sold 9,200 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $250.01, for a total value of $2,300,092.00. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajat Taneja sold 9,200 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $250.01, for a total transaction of $2,300,092.00. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at $58,030,321.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,472 shares of company stock valued at $25,695,420. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Raymond James increased their price objective on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. KeyCorp increased their price objective on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Wedbush increased their price objective on Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Barclays raised their price target on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.55.

Check Out Our Latest Analysis on V

Visa Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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