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

Berkshire Bank lessened its stake in Visa Inc. (NYSE:V) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,209 shares of the credit-card processor’s stock after selling 654 shares during the period. Visa accounts for approximately 2.0% of Berkshire Bank’s portfolio, making the stock its 11th largest position. Berkshire Bank’s holdings in Visa were worth $8,134,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Visa in the 4th quarter valued at $5,171,271,000. GAMMA Investing LLC boosted its stake in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Vanguard Group Inc. grew its position in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Visa in the fourth quarter valued at $1,955,403,000. Finally, Proficio Capital Partners LLC increased its stake in Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $188,186.28. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock worth $36,738,526 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on V. UBS Group raised their price target on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Barclays reaffirmed an “overweight” rating on shares of Visa in a research report on Friday. Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. BMO Capital Markets increased their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Truist Financial began coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective on the stock. 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’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Price Performance

V stock opened at $357.89 on Wednesday. The firm has a 50 day moving average of $351.22 and a 200-day moving average of $338.19. 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. The company has a current ratio of 1.08, a quick ratio of 1.08 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.

Visa (NYSE:V) last issued its quarterly earnings data 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 firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.51 earnings per share. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) 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.