Trust Point Inc. Has $4.67 Million Stake in Visa Inc. (NYSE:V)

Trust Point Inc. decreased its position in Visa Inc. (NYSE:V) by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,316 shares of the credit-card processor’s stock after selling 4,148 shares during the quarter. Trust Point Inc.’s holdings in Visa were worth $4,667,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Lakeridge Wealth Management LLC boosted its stake in shares of Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after buying an additional 81 shares during the period. Blue Rock Wealth Management LLC bought a new stake in Visa during the fourth quarter worth $306,000. Aptus Capital Advisors LLC lifted its stake in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after purchasing an additional 30,185 shares during the last quarter. King Wealth Management Group lifted its stake in Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC lifted its stake in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after purchasing an additional 63 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 5.0%

Shares of NYSE:V opened at $352.75 on Monday. The firm has a market cap of $650.87 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The business has a fifty day simple moving average of $349.76 and a 200 day simple moving average of $337.77.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Analyst Ratings Changes

Several research firms have weighed in on V. Macquarie cut their target price on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. UBS Group upped their target price on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Citigroup began coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating for the company. Finally, William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction dated 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 sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,448 shares of company stock valued at $50,133,659. Corporate insiders own 0.13% of the company’s stock.

About Visa

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.