Visa Inc. (NYSE:V) Shares Bought by Bell Bank

Bell Bank raised its position in Visa Inc. (NYSE:V) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,470 shares of the credit-card processor’s stock after purchasing an additional 69 shares during the quarter. Bell Bank’s holdings in Visa were worth $5,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa in the 4th quarter valued at $27,000. Compass Planning Associates Inc acquired a new position in Visa during the 4th quarter worth approximately $32,000. NewSquare Capital LLC purchased a new position in Visa in the 4th quarter worth approximately $35,000. FPC Investment Advisory Inc. grew its position in Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after acquiring an additional 83 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new stake in Visa in the fourth quarter valued at approximately $41,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock worth $36,738,526 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating for the company. Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 30th. Finally, Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target for the company. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $372.80.

Visa Stock Performance

Visa stock opened at $357.89 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a fifty day moving average price of $351.22 and a two-hundred day moving average price of $338.19. The company has a market cap of $660.37 billion, a PE ratio of 35.97, a P/E/G ratio of 2.39 and a beta of 0.94.

Visa (NYSE:V) last posted its quarterly 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. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company 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 posted $2.51 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

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.