First Commonwealth Financial Corp PA Purchases 1,806 Shares of Visa Inc. $V

First Commonwealth Financial Corp PA increased its position in Visa Inc. (NYSE:VFree Report) by 41.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,149 shares of the credit-card processor’s stock after acquiring an additional 1,806 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Visa were worth $2,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC grew its position in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Sagard Holdings Management Inc. acquired a new position in shares of Visa during the 2nd quarter worth about $31,000. Bare Financial Services Inc boosted its stake in Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 66 shares during the period. Winnow Wealth LLC bought a new stake in Visa during the 2nd quarter valued at approximately $40,000. Finally, Imprint Wealth LLC acquired a new stake in Visa in the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.5%

Visa stock opened at $308.55 on Wednesday. The business has a 50 day moving average price of $323.65 and a two-hundred day moving average price of $335.32. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The stock has a market cap of $560.07 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 1.78 and a beta of 0.78.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.03. The company had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.75 EPS. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were paid a dividend of $0.67 per share. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. Visa’s payout ratio is currently 25.14%.

Key Visa News

Here are the key news stories impacting Visa this week:

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $411.00 price target (up from $398.00) on shares of Visa in a research report on Friday, January 30th. Piper Sandler set a $160.00 price objective on Visa in a research report on Wednesday, January 28th. Cantor Fitzgerald upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, January 27th. Truist Financial set a $372.00 target price on shares of Visa in a research report on Tuesday, February 10th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $392.65.

Check Out Our Latest Analysis on Visa

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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