Zurcher Kantonalbank Zurich Cantonalbank Purchases 63,504 Shares of Visa Inc. (NYSE:V)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Visa Inc. (NYSE:V) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,124,986 shares of the credit-card processor’s stock after purchasing an additional 63,504 shares during the quarter. Visa comprises about 1.0% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 14th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Visa were worth $355,541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds 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 approximately $1,955,403,000. Proficio Capital Partners LLC boosted its stake in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the period. State Street Corp grew its position in Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. FMR LLC increased its stake in 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 acquiring an additional 3,265,518 shares during the period. Finally, Geode Capital Management LLC increased its stake in 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 acquiring an additional 2,772,549 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE:V opened at $345.79 on Monday. The firm’s fifty day moving average is $336.18 and its 200-day moving average is $308.92. The firm 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. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54.

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

Visa Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio is 23.79%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on V shares. UBS Group increased their target price on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley boosted their target price on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays increased their price target on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Transactions at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the firm’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 value of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares in the company, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock valued at $22,290,507 over the last ninety days. 0.13% of the stock is owned by company insiders.

About Visa

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.