Zurcher Kantonalbank Zurich Cantonalbank Buys 34,331 Shares of Visa Inc. (NYSE:V)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Visa Inc. (NYSE:V) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,144,449 shares of the credit-card processor’s stock after buying an additional 34,331 shares during the period. Visa accounts for about 1.1% of Zurcher Kantonalbank Zurich Cantonalbank’s investment portfolio, making the stock its 11th largest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Visa were worth $297,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. GoalVest Advisory LLC boosted its stake in shares of Visa by 3.4% in the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after buying an additional 40 shares in the last quarter. Destiny Wealth Partners LLC boosted its stake in shares of Visa by 2.5% in the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock valued at $433,000 after buying an additional 40 shares in the last quarter. Sunflower Bank N.A. boosted its stake in shares of Visa by 1.3% in the fourth quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock valued at $818,000 after buying an additional 41 shares in the last quarter. HWG Holdings LP boosted its stake in shares of Visa by 18.4% in the second quarter. HWG Holdings LP now owns 270 shares of the credit-card processor’s stock valued at $64,000 after buying an additional 42 shares in the last quarter. Finally, Parker Financial LLC boosted its stake in shares of Visa by 4.8% in the fourth quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock valued at $241,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $272.69 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The firm has a market cap of $500.80 billion, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The stock has a 50-day simple moving average of $279.80 and a 200-day simple moving average of $262.56.

Visa (NYSE:V) 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. Visa had a return on equity of 50.02% and a net margin of 53.92%. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same quarter last year, the firm earned $2.18 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 9.88 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.94%.

Insider Buying and Selling at Visa

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 in the company, valued at approximately $1,365,954.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Visa news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 55,511 shares of company stock worth $15,131,081 in the last 90 days. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

V has been the topic of a number of analyst reports. Evercore ISI lifted their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. TD Cowen started coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Citigroup boosted their price target on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. Susquehanna boosted their price target on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Finally, KeyCorp boosted their price target on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $298.43.

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.