Wells Fargo & Company MN Has $2.50 Billion Position in Visa Inc. (NYSE:V)

Wells Fargo & Company MN trimmed its position in Visa Inc. (NYSE:V - Free Report) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,920,003 shares of the credit-card processor's stock after selling 82,033 shares during the period. Wells Fargo & Company MN owned approximately 0.43% of Visa worth $2,503,038,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Vanguard Group Inc. raised its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. State Street Corp lifted its holdings 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 acquiring an additional 3,327,977 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Norges Bank bought a new position in shares of Visa during the 4th quarter valued at about $5,171,271,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Visa by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor's stock valued at $3,868,646,000 after purchasing an additional 718,558 shares during the period. Institutional investors own 82.15% of the company's stock.

Remove Ads

Visa Stock Performance

V traded down $25.93 during trading hours on Friday, reaching $313.46. The company's stock had a trading volume of 13,195,055 shares, compared to its average volume of 7,221,128. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company's 50-day moving average is $345.02 and its 200-day moving average is $317.07. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The firm has a market cap of $582.34 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) 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%. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's payout ratio is 23.79%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at $194,931. This represents a 94.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa 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 sale, the general counsel now owns 11,925 shares of the company's stock, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,205 shares of company stock valued at $48,842,490. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on V shares. Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a report on Thursday, February 13th. StockNews.com raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Friday, March 28th. Seaport Res Ptn upgraded Visa from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. The Goldman Sachs Group lifted their price target on Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Finally, Bank of America lifted their target price on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Five 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 company's stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average target price of $355.84.

Visa 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.