Visa Inc. (NYSE:V) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its holdings in Visa Inc. (NYSE:V) by 6.6% in the first quarter, Holdings Channel.com reports. The fund owned 113,474 shares of the credit-card processor’s stock after selling 8,075 shares during the quarter. Visa makes up 1.0% of OLD National Bancorp IN’s investment portfolio, making the stock its 15th largest position. OLD National Bancorp IN’s holdings in Visa were worth $39,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of V. Capital & Planning LLC raised its stake in Visa by 21.2% in the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock valued at $300,000 after purchasing an additional 166 shares during the last quarter. Sovereign Investment Advisors LLC acquired a new position in Visa in the 4th quarter valued at about $424,000. Brighton Jones LLC raised its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Visa in the 4th quarter valued at about $202,074,000. Finally, Revolve Wealth Partners LLC raised its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $58,645,479 in the last 90 days. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Jefferies Financial Group boosted their target price 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. Truist Financial assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating and a $400.00 target price for the company. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Up 1.0%

Shares of NYSE:V opened at $370.44 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $371.00. The stock has a market capitalization of $683.52 billion, a P/E ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.94. The stock has a 50-day simple moving average of $345.45 and a 200-day simple moving average of $335.70.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.51 EPS. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

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.