Global Trust Asset Management LLC Has $2.98 Million Stock Position in Visa Inc. (NYSE:V)

Global Trust Asset Management LLC lifted its position in shares of Visa Inc. (NYSE:V) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,675 shares of the credit-card processor’s stock after purchasing an additional 274 shares during the quarter. Visa makes up about 1.2% of Global Trust Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Global Trust Asset Management LLC’s holdings in Visa were worth $2,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CHICAGO TRUST Co NA boosted its position in shares of Visa by 1.7% during the 1st quarter. CHICAGO TRUST Co NA now owns 18,266 shares of the credit-card processor’s stock valued at $5,098,000 after acquiring an additional 299 shares in the last quarter. First PREMIER Bank lifted its stake in Visa by 21.7% during the first quarter. First PREMIER Bank now owns 2,789 shares of the credit-card processor’s stock worth $778,000 after purchasing an additional 497 shares during the period. Lane & Associates LLC boosted its holdings in Visa by 19.0% during the first quarter. Lane & Associates LLC now owns 2,541 shares of the credit-card processor’s stock valued at $709,000 after purchasing an additional 406 shares in the last quarter. Westend Capital Management LLC acquired a new stake in shares of Visa during the 1st quarter worth about $25,000. Finally, Cherrydale Wealth Management LLC lifted its holdings in Visa by 13.2% during the 1st quarter. Cherrydale Wealth Management LLC now owns 1,384 shares of the credit-card processor’s stock valued at $386,000 after purchasing an additional 161 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction 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 $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa 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 completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by insiders.

Visa Stock Up 0.3 %

Visa stock opened at $276.17 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The company’s 50-day moving average is $274.07 and its 200-day moving average is $273.29. The firm has a market capitalization of $505.10 billion, a PE ratio of 30.86, a P/E/G ratio of 1.88 and a beta of 0.97. Visa Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping 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 firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.24%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Macquarie raised their price objective on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. UBS Group lifted their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Piper Sandler began coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. TD Cowen began coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Finally, Wedbush increased their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $303.76.

About Visa

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.