Parkside Financial Bank & Trust Increases Stock Holdings in Visa Inc. (NYSE:V)

Parkside Financial Bank & Trust increased its holdings in shares of Visa Inc. (NYSE:V) by 4.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,391 shares of the credit-card processor’s stock after acquiring an additional 610 shares during the period. Parkside Financial Bank & Trust’s holdings in Visa were worth $4,232,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp raised its stake in Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC raised its stake in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC raised its stake in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Visa by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after purchasing an additional 123,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Visa by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after purchasing an additional 670,590 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $363.33 on Friday. The business has a 50-day moving average of $333.03 and a 200 day moving average of $305.66. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $674.99 billion, a price-to-earnings ratio of 36.63, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $364.00.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Insider Activity

In other news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,885 shares of company stock worth $19,161,447. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

V has been the subject of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Raymond James reaffirmed an “outperform” rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a research note on Friday, January 31st. The Goldman Sachs Group raised their target price on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $353.96.

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.