Visa Inc. $V Shares Sold by First County Bank CT

First County Bank CT lessened its stake in Visa Inc. (NYSE:V) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,040 shares of the credit-card processor’s stock after selling 281 shares during the period. First County Bank CT’s holdings in Visa were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of V. Brighton Jones LLC boosted its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Visa by 13.3% in the first quarter. Merit Financial Group LLC now owns 59,030 shares of the credit-card processor’s stock valued at $20,688,000 after buying an additional 6,909 shares during the last quarter. McLean Asset Management Corp raised its holdings in shares of Visa by 3.1% in the first quarter. McLean Asset Management Corp now owns 3,709 shares of the credit-card processor’s stock valued at $1,300,000 after buying an additional 113 shares during the last quarter. Finally, Swisher Financial Concepts Inc. raised its holdings in shares of Visa by 7.7% in the first quarter. Swisher Financial Concepts Inc. now owns 1,334 shares of the credit-card processor’s stock valued at $467,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $341.34 on Wednesday. The firm’s 50 day moving average is $344.23 and its two-hundred day moving average is $346.51. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $625.61 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.26 and a beta of 0.92.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

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.