Visa Inc. (NYSE:V) Shares Sold by Capital City Trust Co. FL

Capital City Trust Co. FL decreased its holdings in shares of Visa Inc. (NYSE:V) by 2.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 25,024 shares of the credit-card processor’s stock after selling 678 shares during the period. Visa makes up approximately 2.4% of Capital City Trust Co. FL’s portfolio, making the stock its 9th biggest position. Capital City Trust Co. FL’s holdings in Visa were worth $8,770,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. boosted its position in Visa by 2.1% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 21,098 shares of the credit-card processor’s stock valued at $7,394,000 after purchasing an additional 428 shares during the period. Ballast Advisors LLC lifted its stake in Visa by 4.0% in the first quarter. Ballast Advisors LLC now owns 8,364 shares of the credit-card processor’s stock valued at $2,931,000 after buying an additional 321 shares during the last quarter. Second Half Financial Partners LLC boosted its holdings in shares of Visa by 18.0% during the first quarter. Second Half Financial Partners LLC now owns 2,056 shares of the credit-card processor’s stock valued at $721,000 after acquiring an additional 313 shares during the period. Valued Retirements Inc. grew its position in shares of Visa by 4.3% during the first quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock worth $255,000 after acquiring an additional 30 shares during the last quarter. Finally, Alteri Wealth LLC grew its position in shares of Visa by 3.9% during the first quarter. Alteri Wealth LLC now owns 5,104 shares of the credit-card processor’s stock worth $1,789,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several recent research reports. Piper Sandler lifted 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. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Citigroup began coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating for the company. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Finally, The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $375.52.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of NYSE V opened at $356.93 on Friday. The stock’s fifty day simple moving average is $356.30 and its 200 day simple moving average is $345.22. The stock has a market capitalization of $658.60 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.41 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52-week low of $254.51 and a 52-week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for 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 quarter last year, the business posted $2.51 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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