Visa Inc. (NYSE:V) Shares Sold by Peoples Bank KS

Peoples Bank KS cut its stake in Visa Inc. (NYSE:V) by 1.1% in the first quarter, HoldingsChannel reports. The fund owned 5,175 shares of the credit-card processor’s stock after selling 55 shares during the period. Visa accounts for approximately 1.2% of Peoples Bank KS’s investment portfolio, making the stock its 22nd largest holding. Peoples Bank KS’s holdings in Visa were worth $1,814,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Verde Capital Management lifted its position in shares of Visa by 19.8% during the 1st quarter. Verde Capital Management now owns 3,821 shares of the credit-card processor’s stock valued at $1,339,000 after buying an additional 631 shares in the last quarter. Marion Wealth Management increased its stake in Visa by 15.1% during the first quarter. Marion Wealth Management now owns 772 shares of the credit-card processor’s stock worth $271,000 after acquiring an additional 101 shares during the last quarter. Meyer Handelman Co. increased its stake in Visa by 0.3% during the first quarter. Meyer Handelman Co. now owns 86,741 shares of the credit-card processor’s stock worth $30,399,000 after acquiring an additional 298 shares during the last quarter. Rooted Wealth Advisors Inc. purchased a new stake in Visa in the first quarter valued at $236,000. Finally, Beese Fulmer Investment Management Inc. raised its position in Visa by 2.1% in the first quarter. Beese Fulmer Investment Management Inc. now owns 4,586 shares of the credit-card processor’s stock valued at $1,607,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.8%

V stock opened at $365.43 on Friday. The stock has a market cap of $674.28 billion, a P/E ratio of 36.84, a PEG ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $369.15. The company’s 50 day moving average is $343.40 and its two-hundred day moving average is $333.71.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the business earned $2.51 EPS. Visa’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction 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 completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $194,931. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock valued at $41,548,282 in the last three months. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on V. Macquarie cut their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Citigroup reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.13.

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.