Visa Inc. (NYSE:V) Position Lessened by Field & Main Bank

Field & Main Bank cut its position in shares of Visa Inc. (NYSE:V) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,279 shares of the credit-card processor’s stock after selling 453 shares during the period. Visa accounts for about 2.0% of Field & Main Bank’s investment portfolio, making the stock its 11th largest position. Field & Main Bank’s holdings in Visa were worth $5,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Archford Capital Strategies LLC raised its holdings in shares of Visa by 34.6% during the 1st quarter. Archford Capital Strategies LLC now owns 46,388 shares of the credit-card processor’s stock valued at $16,257,000 after purchasing an additional 11,919 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Visa by 0.9% during the first quarter. International Assets Investment Management LLC now owns 37,490 shares of the credit-card processor’s stock valued at $13,139,000 after buying an additional 325 shares in the last quarter. Invesco LLC raised its holdings in Visa by 8.3% during the first quarter. Invesco LLC now owns 16,871 shares of the credit-card processor’s stock valued at $5,913,000 after buying an additional 1,300 shares in the last quarter. Berry Wealth Group LP raised its holdings in Visa by 16.7% during the first quarter. Berry Wealth Group LP now owns 3,299 shares of the credit-card processor’s stock valued at $1,156,000 after buying an additional 473 shares in the last quarter. Finally, Sava Infond d.o.o. bought a new position in Visa during the first quarter valued at about $161,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at $9,377,671.52. This trade represents a 35.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,098 shares of company stock valued at $36,738,526. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on V shares. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Piper Sandler lifted their price target 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. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Five equities research 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Stock Performance

Shares of NYSE V opened at $345.87 on Thursday. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The firm has a market capitalization of $638.19 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 2.36 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. The business has a fifty day simple moving average of $352.56 and a 200 day simple moving average of $339.31.

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 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 firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business posted $2.51 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 dividend yield of 0.68%. Visa’s payout ratio is presently 23.72%.

Visa Company 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.