First Citizens Bank & Trust Co. Has $12.99 Million Stake in Visa Inc. (NYSE:V)

First Citizens Bank & Trust Co. boosted its holdings in shares of Visa Inc. (NYSE:VFree Report) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,887 shares of the credit-card processor’s stock after buying an additional 964 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Visa were worth $12,988,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of V. State Street Corp grew its position in shares of Visa by 1.7% in the second quarter. State Street Corp now owns 74,133,003 shares of the credit-card processor’s stock valued at $17,605,106,000 after purchasing an additional 1,235,891 shares during the last quarter. Morgan Stanley grew its position in shares of Visa by 13.0% in the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after purchasing an additional 5,864,340 shares during the last quarter. 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 during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Visa by 116,608.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Visa by 5.7% during the second quarter. Royal Bank of Canada now owns 18,879,347 shares of the credit-card processor’s stock worth $4,483,466,000 after buying an additional 1,015,104 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, 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 value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Visa news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction 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 completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. Insiders sold a total of 55,511 shares of company stock valued at $15,131,081 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on V shares. Royal Bank of Canada lifted their target price on Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Monness Crespi & Hardt started coverage on Visa in a research report on Wednesday, December 20th. They set a “neutral” rating on the stock. Jefferies Financial Group lifted their target price on Visa from $280.00 to $295.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Barclays lifted their target price on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $295.82.

Get Our Latest Stock Report on V

Visa Stock Performance

NYSE:V opened at $278.55 on Wednesday. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The firm has a 50 day moving average of $279.62 and a 200-day moving average of $259.44. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $511.56 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96.

Visa (NYSE:VGet Free Report) last posted its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The company had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.18 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

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

Visa Company 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.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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