Bell Bank raised its holdings in shares of Visa Inc. (NYSE:V) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,444 shares of the credit-card processor’s stock after buying an additional 61 shares during the period. Bell Bank’s holdings in Visa were worth $1,153,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Essex Financial Services Inc. lifted its position in shares of Visa by 9.3% in the 4th quarter. Essex Financial Services Inc. now owns 22,867 shares of the credit-card processor’s stock valued at $5,002,000 after acquiring an additional 1,944 shares in the last quarter. Institute for Wealth Management LLC. lifted its position in shares of Visa by 4.9% in the 4th quarter. Institute for Wealth Management LLC. now owns 13,588 shares of the credit-card processor’s stock valued at $2,972,000 after acquiring an additional 629 shares in the last quarter. CNB Bank lifted its position in shares of Visa by 13.9% in the 1st quarter. CNB Bank now owns 6,455 shares of the credit-card processor’s stock valued at $1,367,000 after acquiring an additional 788 shares in the last quarter. Merrion Investment Management Co LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $551,000. Finally, XXEC Inc. lifted its position in shares of Visa by 218.3% in the 1st quarter. XXEC Inc. now owns 36,450 shares of the credit-card processor’s stock valued at $7,718,000 after acquiring an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 80.50% of the company’s stock.
In other Visa news, Director Robert W. Matschullat sold 29,956 shares of the business’s stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $223.02, for a total value of $6,680,787.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rajat Taneja sold 31,750 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $223.00, for a total transaction of $7,080,250.00. Following the completion of the transaction, the insider now directly owns 282,606 shares of the company’s stock, valued at $63,021,138. The disclosure for this sale can be found here. Insiders have sold a total of 137,626 shares of company stock valued at $30,979,639 over the last three months. 0.19% of the stock is currently owned by insiders.
Several research analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Visa in a research note on Tuesday, January 26th. They set an “outperform” rating and a $232.00 price target on the stock. Truist increased their price target on shares of Visa from $230.00 to $250.00 in a research note on Wednesday, April 28th. Royal Bank of Canada restated a “buy” rating on shares of Visa in a research note on Wednesday, May 5th. Oppenheimer increased their price target on shares of Visa from $245.00 to $260.00 in a research note on Wednesday, April 28th. Finally, Susquehanna Bancshares increased their price target on shares of Visa from $250.00 to $265.00 and gave the stock a “positive” rating in a research note on Wednesday, April 28th. One investment analyst has rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Visa currently has a consensus rating of “Buy” and an average price target of $250.22.
Shares of NYSE:V traded up $0.33 during midday trading on Friday, reaching $226.77. 5,603,876 shares of the company’s stock were exchanged, compared to its average volume of 9,067,310. The company’s 50 day simple moving average is $226.18 and its two-hundred day simple moving average is $213.75. The firm has a market capitalization of $441.74 billion, a PE ratio of 46.47, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. Visa Inc. has a 12 month low of $179.23 and a 12 month high of $237.50. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.91 and a current ratio of 1.91.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.12. Visa had a net margin of 49.74% and a return on equity of 37.22%. The firm had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the firm posted $1.39 EPS. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. On average, research analysts anticipate that Visa Inc. will post 5.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, May 13th. Visa’s dividend payout ratio is currently 25.40%.
Visa Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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