Sanibel Captiva Trust Company Inc. cut its position in Visa Inc. (NYSE:V - Free Report) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,768 shares of the credit-card processor's stock after selling 4,849 shares during the quarter. Visa comprises about 2.8% of Sanibel Captiva Trust Company Inc.'s portfolio, making the stock its 6th biggest holding. Sanibel Captiva Trust Company Inc.'s holdings in Visa were worth $89,050,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Howard Financial Services LTD. boosted its holdings in Visa by 114.0% in the 4th quarter. Howard Financial Services LTD. now owns 1,971 shares of the credit-card processor's stock valued at $623,000 after purchasing an additional 1,050 shares during the period. Verity & Verity LLC raised its position in shares of Visa by 137.7% in the fourth quarter. Verity & Verity LLC now owns 4,761 shares of the credit-card processor's stock valued at $1,505,000 after buying an additional 2,758 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Visa by 2.8% in the fourth quarter. Integrated Investment Consultants LLC now owns 2,967 shares of the credit-card processor's stock valued at $938,000 after buying an additional 80 shares during the period. Spring Capital Management LLC boosted its stake in shares of Visa by 12.2% in the fourth quarter. Spring Capital Management LLC now owns 23,492 shares of the credit-card processor's stock valued at $7,424,000 after buying an additional 2,548 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management grew its position in Visa by 0.3% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 17,463 shares of the credit-card processor's stock worth $5,519,000 after buying an additional 46 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
V has been the subject of a number of recent analyst reports. Oppenheimer upped their target price on Visa from $321.00 to $375.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Barclays increased their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Piper Sandler boosted their target price on shares of Visa from $319.00 to $322.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reiterated a "neutral" rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their price objective on shares of Visa from $311.00 to $322.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $331.92.
Check Out Our Latest Research Report on Visa
Visa Trading Up 0.9 %
V stock traded up $2.72 during midday trading on Monday, hitting $319.97. The stock had a trading volume of 5,746,152 shares, compared to its average volume of 5,703,089. The business has a fifty day moving average price of $313.41 and a two-hundred day moving average price of $288.73. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61. The firm has a market cap of $596.06 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the firm posted $2.33 EPS. The company's quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc. will post 11.22 earnings per share for the current fiscal year.
Visa Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Visa's previous quarterly dividend of $0.52. Visa's dividend payout ratio is 24.25%.
Insider Activity
In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company's stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.
Visa Company Profile
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Free Report)
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.
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