Central Bank & Trust Co. reduced its holdings in Visa Inc. (NYSE:V – Get Rating) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,123 shares of the credit-card processor’s stock after selling 717 shares during the quarter. Visa makes up approximately 1.5% of Central Bank & Trust Co.’s investment portfolio, making the stock its 21st largest position. Central Bank & Trust Co.’s holdings in Visa were worth $9,341,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its holdings in Visa by 1.9% during the 4th quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock worth $27,962,374,000 after purchasing an additional 2,440,030 shares during the last quarter. State Street Corp raised its holdings in Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock worth $16,154,022,000 after purchasing an additional 1,504,897 shares during the last quarter. Geode Capital Management LLC raised its holdings in Visa by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock worth $6,416,486,000 after purchasing an additional 827,137 shares during the last quarter. Alliancebernstein LP raised its holdings in Visa by 11.5% during the 4th quarter. Alliancebernstein LP now owns 25,850,411 shares of the credit-card processor’s stock worth $5,602,043,000 after purchasing an additional 2,659,845 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Visa by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,368,049 shares of the credit-card processor’s stock worth $5,280,800,000 after purchasing an additional 320,042 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
Several analysts have recently commented on V shares. Evercore ISI raised their price objective on shares of Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Barclays reduced their price objective on shares of Visa from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Monday, April 4th. Piper Sandler downgraded shares of Visa from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $283.00 to $239.00 in a research report on Friday, April 29th. Cowen reduced their price objective on shares of Visa from $276.00 to $254.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. Finally, Cowen reduced their price objective on shares of Visa from $276.00 to $254.00 in a research report on Wednesday, April 27th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $267.44.
NYSE V opened at $199.50 on Thursday. The stock has a market capitalization of $379.30 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 1.75 and a beta of 0.90. Visa Inc. has a one year low of $185.91 and a one year high of $252.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The business’s fifty-day moving average is $203.76 and its 200-day moving average is $211.95.
Visa (NYSE: V – Get Rating) last released its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. The company had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.38 EPS. Research analysts expect that Visa Inc. will post 7.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 12th. Visa’s payout ratio is 23.58%.
In other Visa news, President Ryan McInerney sold 6,467 shares of Visa stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $223.65, for a total transaction of $1,446,344.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $210.38, for a total value of $1,893,420.00. Following the transaction, the chief executive officer now directly owns 162,887 shares of the company’s stock, valued at approximately $34,268,167.06. The disclosure for this sale can be found here. Insiders have sold a total of 24,467 shares of company stock worth $5,307,345 over the last quarter. Company insiders own 0.21% of the company’s stock.
About Visa: (Get Rating)
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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