Diversified Trust Co Reduces Position in Visa Inc. $V

Diversified Trust Co decreased its holdings in shares of Visa Inc. (NYSE:V) by 12.1% in the first quarter, HoldingsChannel reports. The fund owned 82,009 shares of the credit-card processor’s stock after selling 11,251 shares during the quarter. Diversified Trust Co’s holdings in Visa were worth $24,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Visa during the fourth quarter valued at about $5,877,738,000. Cardano Risk Management B.V. raised its stake in shares of Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock worth $2,880,595,000 after buying an additional 7,364,762 shares during the period. J. Stern & Co. LLP lifted its position in shares of Visa by 12,497.1% during the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock valued at $1,184,712,000 after buying an additional 3,351,223 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Visa by 48.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after buying an additional 2,116,463 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is currently owned by insiders.

Visa Stock Up 0.2%

Shares of V opened at $327.78 on Tuesday. The business’s 50 day moving average is $321.61 and its 200 day moving average is $324.18. The company has a market capitalization of $587.96 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $359.66. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the previous year, the firm earned $2.76 EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa declared that its board has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s payout ratio is 23.34%.

Analyst Ratings Changes

Several research firms recently issued reports on V. Truist Financial set a $371.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. BMO Capital Markets initiated coverage on shares of Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $389.00 price target on shares of Visa in a research report on Wednesday, April 29th. Evercore set a $350.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $415.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Visa currently has an average rating of “Buy” and a consensus target price of $387.78.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.