First National Trust Co Has $6.33 Million Position in Visa Inc (V)
First National Trust Co lifted its position in shares of Visa Inc (NYSE:V) by 6.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,523 shares of the credit-card processor’s stock after buying an additional 3,305 shares during the quarter. First National Trust Co’s holdings in Visa were worth $6,331,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Visa by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after buying an additional 2,628,148 shares during the last quarter. BlackRock Inc. grew its holdings in Visa by 1.3% during the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after purchasing an additional 1,440,034 shares during the last quarter. Jennison Associates LLC grew its holdings in Visa by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock valued at $2,239,872,000 after purchasing an additional 209,764 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Visa by 9.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock valued at $2,019,358,000 after purchasing an additional 1,624,700 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Visa by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock valued at $1,680,838,000 after purchasing an additional 355,320 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.
In other news, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. equities research analysts anticipate that Visa Inc will post 4.36 earnings per share for the current year.
Visa announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that allows the company to repurchase $7.50 billion in shares. This repurchase authorization allows the credit-card processor to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is presently 32.94%.
Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Visa in a report on Thursday, February 1st. KeyCorp upped their price target on shares of Visa from $125.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Cantor Fitzgerald upped their price target on shares of Visa to $141.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Citigroup reiterated a “buy” rating and set a $145.00 price target (up from $136.00) on shares of Visa in a report on Monday, January 29th. Finally, Oppenheimer upped their price target on shares of Visa from $125.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $134.14.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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