Bath Savings Trust Co reduced its position in Visa Inc. (NYSE:V – Free Report) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,178 shares of the credit-card processor’s stock after selling 50 shares during the quarter. Bath Savings Trust Co’s holdings in Visa were worth $5,352,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter worth about $25,000. Altshuler Shaham Ltd acquired a new position in shares of Visa during the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth about $37,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Price Performance
Visa stock opened at $273.62 on Thursday. Visa Inc. has a 12 month low of $224.98 and a 12 month high of $290.96. 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 business has a 50 day simple moving average of $273.96 and a 200-day simple moving average of $272.71. The stock has a market capitalization of $500.43 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97.
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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.
Analysts Set New Price Targets
A number of brokerages have recently commented on V. Oppenheimer boosted their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Wedbush boosted their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Macquarie upped their price target on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Citigroup upped their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Piper Sandler began 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 research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $303.76.
Insiders Place Their Bets
In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The stock was 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 owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction 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 in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is owned by corporate insiders.
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.
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