PNC Financial Services Group Inc. Has $974.17 Million Position in Visa Inc. (NYSE:V)

PNC Financial Services Group Inc. raised its holdings in Visa Inc. (NYSE:V) by 0.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,082,417 shares of the credit-card processor’s stock after acquiring an additional 6,447 shares during the quarter. Visa comprises 0.7% of PNC Financial Services Group Inc.’s holdings, making the stock its 25th biggest holding. PNC Financial Services Group Inc.’s holdings in Visa were worth $974,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Visa during the 4th quarter worth about $1,955,403,000. Proficio Capital Partners LLC increased its stake in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. State Street Corp increased its stake in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC increased its stake in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on V shares. JPMorgan Chase & Co. boosted their price objective on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group boosted their price objective on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Citigroup restated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Morgan Stanley lifted their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Raymond James reaffirmed an “outperform” rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,505 shares of company stock valued at $22,290,507. Company insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $345.79 on Friday. The company has a 50 day moving average of $336.18 and a 200-day moving average of $308.35. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $642.41 billion, a PE ratio of 34.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Visa Company 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.