Perkins Coie Trust Co Sells 112 Shares of Visa Inc. (NYSE:V)

Perkins Coie Trust Co lowered its stake in Visa Inc. (NYSE:V) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,462 shares of the credit-card processor’s stock after selling 112 shares during the period. Visa makes up approximately 2.1% of Perkins Coie Trust Co’s holdings, making the stock its 11th largest holding. Perkins Coie Trust Co’s holdings in Visa were worth $8,780,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Harbor Investment Advisory LLC increased its holdings in Visa by 4.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 41,069 shares of the credit-card processor’s stock valued at $11,462,000 after purchasing an additional 1,595 shares during the period. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Visa by 755.6% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 616 shares of the credit-card processor’s stock worth $172,000 after acquiring an additional 544 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Visa during the 1st quarter worth approximately $167,763,000. Traynor Capital Management Inc. grew its holdings in shares of Visa by 3.5% during the 1st quarter. Traynor Capital Management Inc. now owns 41,634 shares of the credit-card processor’s stock worth $11,619,000 after acquiring an additional 1,391 shares during the period. Finally, Peak Financial Advisors LLC purchased a new position in shares of Visa during the 1st quarter worth approximately $2,505,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

V stock opened at $276.17 on Tuesday. The company’s 50-day simple moving average is $274.07 and its 200-day simple moving average is $273.29. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $226.02 and a 52-week high of $290.96. The firm has a market cap of $505.10 billion, a P/E ratio of 30.86, a PEG ratio of 1.88 and a beta of 0.97.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Wedbush upped their price objective on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. TD Cowen began coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Finally, Macquarie lifted their target price on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Insider Buying and Selling at Visa

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

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.