BTC Capital Management Inc. Buys New Stake in Visa Inc. (NYSE:V)

BTC Capital Management Inc. purchased a new stake in Visa Inc. (NYSE:V) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,599 shares of the credit-card processor’s stock, valued at approximately $446,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nadler Financial Group Inc. boosted its stake in shares of Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares during the period. Towerpoint Wealth LLC acquired a new stake in Visa during the 4th quarter worth approximately $216,000. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Visa in the 4th quarter valued at approximately $3,427,000. Richelieu Gestion SA purchased a new position in shares of Visa in the 4th quarter valued at approximately $307,000. Finally, Cooper Financial Group raised its stake in shares of Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after purchasing an additional 476 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE:V opened at $275.22 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The business’s fifty day moving average price is $273.97 and its two-hundred day moving average price is $273.01. The stock has a market cap of $503.36 billion, a PE ratio of 30.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97. Visa Inc. has a one year low of $225.50 and a one year high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 over the last 90 days. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on V shares. Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Citigroup boosted their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group raised their price objective on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Robert W. Baird boosted their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, Piper Sandler assumed coverage on Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target for the company. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $303.76.

Visa 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.