Wesbanco Bank Inc. Sells 360 Shares of Visa Inc. (NYSE:V)

Wesbanco Bank Inc. cut its stake in Visa Inc. (NYSE:V) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,007 shares of the credit-card processor’s stock after selling 360 shares during the period. Wesbanco Bank Inc.’s holdings in Visa were worth $2,531,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Phoenix Wealth Advisors boosted its holdings in Visa by 3.4% in the 4th quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock valued at $305,000 after purchasing an additional 32 shares during the period. Unionview LLC lifted its holdings in shares of Visa by 1.5% during the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after acquiring an additional 33 shares during the period. Forza Wealth Management LLC lifted its holdings in shares of Visa by 2.9% during the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after acquiring an additional 33 shares during the period. Presilium Private Wealth LLC lifted its holdings in shares of Visa by 2.2% during the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock worth $475,000 after acquiring an additional 33 shares during the period. Finally, FWG Holdings LLC lifted its holdings in shares of Visa by 1.1% during the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after acquiring an additional 34 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Trading Up 0.6 %

V opened at $330.20 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $615.11 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The firm has a 50 day simple moving average of $314.54 and a 200 day simple moving average of $289.98. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $331.09.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 earnings per share. On average, sell-side analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s payout ratio is 24.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on V shares. Susquehanna raised their price objective on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer raised their price objective on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their price target on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Robert W. Baird lifted their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $334.58.

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.