WASHINGTON TRUST Co Cuts Holdings in Visa Inc. $V

WASHINGTON TRUST Co trimmed its holdings in shares of Visa Inc. (NYSE:VFree Report) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 217,761 shares of the credit-card processor’s stock after selling 2,529 shares during the period. Visa makes up about 2.5% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 11th largest holding. WASHINGTON TRUST Co’s holdings in Visa were worth $76,371,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Clayton Financial Group LLC lifted its holdings in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after buying an additional 58 shares during the period. PayPay Securities Corp lifted its holdings in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 38 shares during the period. Cresta Advisors Ltd. bought a new position in shares of Visa during the 4th quarter valued at $26,000. Parvin Asset Management LLC lifted its holdings in shares of Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 50 shares during the period. Finally, Dorato Capital Management bought a new position in shares of Visa during the 4th quarter valued at $30,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Visa Stock Performance

NYSE V opened at $327.68 on Friday. The stock has a market capitalization of $587.78 billion, a PE ratio of 28.54, a P/E/G ratio of 1.74 and a beta of 0.78. The business has a 50 day simple moving average of $314.87 and a two-hundred day simple moving average of $325.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $375.51.

Visa (NYSE:VGet Free Report) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.76 EPS. On average, research analysts predict that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is currently 23.34%.

Insider Buying and Selling at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the sale, the director directly owned 2,679 shares in the company, valued at $829,471.98. The trade was a 19.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 42,744 shares of company stock worth $14,356,010 in the last quarter. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore set a $350.00 target price on Visa in a report on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of Visa in a report on Wednesday, April 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Visa in a report on Friday, January 30th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $386.70.

Check Out Our Latest Stock Report on Visa

Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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