Visa Inc. (NYSE:V) Shares Sold by First Interstate Bank

First Interstate Bank lessened its holdings in Visa Inc. (NYSE:VGet Rating) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 911 shares of the credit-card processor’s stock after selling 60 shares during the period. First Interstate Bank’s holdings in Visa were worth $202,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Visa by 1.9% during the 4th quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock worth $27,962,374,000 after acquiring an additional 2,440,030 shares in the last quarter. State Street Corp increased its holdings in Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock worth $16,154,022,000 after purchasing an additional 1,504,897 shares during the period. Geode Capital Management LLC increased its holdings in Visa by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock worth $6,416,486,000 after purchasing an additional 827,137 shares during the period. Alliancebernstein L.P. increased its holdings in Visa by 11.5% during the 4th quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock worth $5,602,043,000 after purchasing an additional 2,659,845 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Visa by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,368,049 shares of the credit-card processor’s stock worth $5,280,800,000 after purchasing an additional 320,042 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.

Visa Stock Performance

NYSE V opened at $213.47 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.43. The business has a 50 day moving average price of $205.25 and a 200 day moving average price of $210.48. The company has a market capitalization of $405.87 billion, a P/E ratio of 31.49, a PEG ratio of 1.68 and a beta of 0.89. Visa Inc. has a 1-year low of $185.91 and a 1-year high of $242.60.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, August 11th. Visa’s payout ratio is 22.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on V shares. Macquarie dropped their price objective on Visa from $270.00 to $260.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Citigroup dropped their price objective on Visa from $270.00 to $254.00 in a report on Tuesday, July 26th. UBS Group increased their price objective on Visa from $292.00 to $296.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Morgan Stanley increased their price objective on Visa from $284.00 to $291.00 and gave the company an “overweight” rating in a report on Wednesday, July 27th. Finally, Royal Bank of Canada dropped their price objective on Visa from $278.00 to $262.00 in a report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.64.

Insiders Place Their Bets

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction on Friday, July 29th. The stock was sold at an average price of $212.11, for a total value of $1,908,990.00. Following the completion of the sale, the chief executive officer now owns 156,887 shares of the company’s stock, valued at $33,277,301.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 27,000 shares of company stock valued at $5,560,740. Corporate insiders own 0.21% of the company’s stock.

About Visa

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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