CENTRAL TRUST Co Sells 641 Shares of Visa Inc. (NYSE:V)

CENTRAL TRUST Co reduced its holdings in shares of Visa Inc. (NYSE:V) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,010 shares of the credit-card processor’s stock after selling 641 shares during the period. CENTRAL TRUST Co’s holdings in Visa were worth $27,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Visa in the fourth quarter worth $27,000. Compass Planning Associates Inc purchased a new position in shares of Visa in the fourth quarter worth $32,000. FPC Investment Advisory Inc. increased its stake in shares of Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after buying an additional 83 shares during the period. NewSquare Capital LLC purchased a new position in shares of Visa in the fourth quarter worth $35,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Visa in the fourth quarter worth $41,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Susquehanna reissued a “positive” rating on shares of Visa in a research report on Friday, March 21st. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and raised their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, Barclays restated an “overweight” rating on shares of Visa in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $372.80.

Visa Stock Performance

V opened at $357.89 on Wednesday. The company’s 50 day moving average is $351.22 and its 200 day moving average is $338.19. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $660.37 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.39 and a beta of 0.94. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the firm earned $2.51 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa’s payout ratio is presently 23.72%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock valued at $36,738,526 over the last three months. Corporate insiders own 0.13% of the company’s stock.

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.