Fragasso Group Inc. Trims Holdings in Visa Inc. (NYSE:V)

Fragasso Group Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 1.5% during the 1st quarter, HoldingsChannel reports. The firm owned 34,382 shares of the credit-card processor’s stock after selling 514 shares during the period. Visa accounts for approximately 0.8% of Fragasso Group Inc.’s investment portfolio, making the stock its 17th biggest holding. Fragasso Group Inc.’s holdings in Visa were worth $9,595,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of V. Capital International Investors raised its stake in shares of Visa by 2.7% during the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after purchasing an additional 596,950 shares during the last quarter. Capital World Investors lifted its position in Visa by 8.0% in the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after purchasing an additional 1,323,238 shares during the period. Northern Trust Corp boosted its holdings in Visa by 4.7% in the 3rd quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after purchasing an additional 763,505 shares in the last quarter. Norges Bank acquired a new position in Visa during the 4th quarter worth approximately $3,895,015,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Visa by 2.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after buying an additional 374,489 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,402 shares of company stock valued at $9,559,382. Insiders own 0.19% of the company’s stock.

Visa Stock Down 0.6 %

V stock opened at $275.20 on Friday. The company has a 50 day moving average price of $273.97 and a two-hundred day moving average price of $272.88. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $503.32 billion, a P/E ratio of 30.75, a PEG ratio of 1.89 and a beta of 0.97. Visa Inc. has a one year low of $225.50 and a one year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s payout ratio is currently 23.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on V. TD Cowen started coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Wells Fargo & Company increased their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Oppenheimer boosted their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Citigroup upped their price target on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $303.76.

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.