Visa Inc. (NYSE:V) Shares Sold by Trust Co of the South

Trust Co of the South reduced its stake in shares of Visa Inc. (NYSE:V) by 6.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,268 shares of the credit-card processor’s stock after selling 286 shares during the period. Trust Co of the South’s holdings in Visa were worth $1,191,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of V. Norges Bank purchased a new stake in Visa during the 4th quarter worth approximately $3,895,015,000. International Assets Investment Management LLC increased its holdings in Visa by 17,418.7% during the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. Capital World Investors increased its holdings in Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Visa by 139.4% in the 4th quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock valued at $568,885,000 after acquiring an additional 1,272,211 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 909 shares of the company’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 in the company, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders have sold 34,402 shares of company stock worth $9,559,382 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler assumed coverage on Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target for the company. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Robert W. Baird boosted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. UBS Group boosted their price objective on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada boosted their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $303.76.

Visa Stock Performance

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

Visa (NYSE:V) last issued its earnings results 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 firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Visa Company 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.