Trustcore Financial Services LLC Grows Position in Visa Inc (NYSE:V)
Trustcore Financial Services LLC grew its stake in shares of Visa Inc (NYSE:V) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,386 shares of the credit-card processor’s stock after purchasing an additional 718 shares during the quarter. Trustcore Financial Services LLC’s holdings in Visa were worth $1,673,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora purchased a new stake in shares of Visa during the fourth quarter valued at approximately $27,000. Stephenson National Bank & Trust bought a new position in shares of Visa during the fourth quarter valued at approximately $28,000. AlphaMark Advisors LLC raised its holdings in shares of Visa by 57.8% during the first quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 63 shares in the last quarter. Laffer Investments bought a new position in shares of Visa during the fourth quarter valued at approximately $31,000. Finally, Accurate Investment Solutions Inc. raised its holdings in shares of Visa by 117.1% during the first quarter. Accurate Investment Solutions Inc. now owns 241 shares of the credit-card processor’s stock valued at $39,000 after acquiring an additional 130 shares in the last quarter. 82.43% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. Wedbush upped their target price on Visa from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, April 27th. SunTrust Banks upped their target price on Visa from $190.00 to $200.00 and gave the company a “buy” rating in a report on Friday, May 1st. Credit Suisse Group decreased their target price on Visa from $223.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Oppenheimer increased their price objective on Visa from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $203.00.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, April 30th. The credit-card processor reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. Visa had a return on equity of 43.45% and a net margin of 52.26%. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.75 billion. During the same period last year, the firm posted $1.31 earnings per share. Visa’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc will post 4.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Thursday, May 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. Visa’s dividend payout ratio (DPR) is presently 22.06%.
In other Visa news, EVP Lynne Biggar sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $211.18, for a total value of $1,161,490.00. Following the transaction, the executive vice president now directly owns 19,370 shares of the company’s stock, valued at $4,090,556.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $174.04, for a total value of $1,218,280.00. Following the completion of the transaction, the chief executive officer now directly owns 145,090 shares in the company, valued at $25,251,463.60. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $4,782,030 over the last ninety days. 0.19% of the stock is currently owned by insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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