Trustmark National Bank Trust Department lessened its stake in shares of Visa Inc. (NYSE:V – Free Report) by 45.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,899 shares of the credit-card processor’s stock after selling 4,086 shares during the period. Trustmark National Bank Trust Department’s holdings in Visa were worth $1,163,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Financial Freedom LLC bought a new stake in shares of Visa in the 4th quarter worth $32,000. Kalos Management Inc. bought a new stake in shares of Visa in the 1st quarter worth $40,000. NewSquare Capital LLC increased its holdings in shares of Visa by 121.9% in the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after purchasing an additional 117 shares in the last quarter. Moisand Fitzgerald Tamayo LLC increased its holdings in shares of Visa by 666.7% in the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 230 shares of the credit-card processor’s stock worth $52,000 after purchasing an additional 200 shares in the last quarter. Finally, Northwest Bank & Trust Co bought a new stake in shares of Visa in the 2nd quarter worth $64,000. Institutional investors own 81.35% of the company’s stock.
Analyst Upgrades and Downgrades
V has been the topic of a number of research reports. Wedbush restated an “outperform” rating and issued a $270.00 price target on shares of Visa in a research note on Wednesday, October 25th. Susquehanna raised their price target on Visa from $266.00 to $300.00 in a research note on Wednesday, July 26th. Oppenheimer raised their price target on Visa from $248.00 to $252.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Robert W. Baird restated an “outperform” rating and issued a $284.00 price target on shares of Visa in a research note on Thursday, September 14th. Finally, Mizuho raised their price target on Visa from $240.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.67.
Insiders Place Their Bets
In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total value of $9,445,600.00. Following the transaction, the chairman now directly owns 139,854 shares in the company, valued at approximately $33,025,123.56. The disclosure for this sale can be found here. Insiders have sold 72,100 shares of company stock valued at $17,368,639 over the last ninety days. 0.22% of the stock is owned by insiders.
Visa Price Performance
Shares of Visa stock opened at $249.56 on Friday. Visa Inc. has a 52 week low of $202.13 and a 52 week high of $250.24. The company has a quick ratio of 1.49, a current ratio of 1.45 and a debt-to-equity ratio of 0.55. The stock’s 50-day simple moving average is $238.42 and its 200-day simple moving average is $236.12. The company has a market capitalization of $464.64 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 1.66 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last issued its earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.10. Visa had a return on equity of 50.13% and a net margin of 52.90%. The firm had revenue of $8.61 billion for the quarter, compared to analysts’ expectations of $8.56 billion. During the same period in the previous year, the firm posted $1.93 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 9.9 earnings per share for the current fiscal year.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.83%. This is a boost from Visa’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, November 8th. Visa’s payout ratio is 25.09%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
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