Town & Country Bank & Trust CO dba First Bankers Trust CO Increases Stock Holdings in Visa Inc. $V

Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in shares of Visa Inc. (NYSE:VFree Report) by 60.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,575 shares of the credit-card processor’s stock after purchasing an additional 4,374 shares during the quarter. Visa accounts for approximately 1.2% of Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings, making the stock its 22nd biggest position. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Visa were worth $3,498,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Smith Salley Wealth Management boosted its holdings in shares of Visa by 2.0% in the first quarter. Smith Salley Wealth Management now owns 120,744 shares of the credit-card processor’s stock worth $36,494,000 after buying an additional 2,383 shares during the last quarter. Sunbeam Capital Management LLC increased its holdings in Visa by 4.8% during the first quarter. Sunbeam Capital Management LLC now owns 1,838 shares of the credit-card processor’s stock valued at $556,000 after buying an additional 85 shares during the last quarter. Spectrum Planning & Advisory Services Inc. raised its position in Visa by 1.7% in the first quarter. Spectrum Planning & Advisory Services Inc. now owns 1,896 shares of the credit-card processor’s stock worth $573,000 after acquiring an additional 32 shares during the period. Evolve Private Wealth LLC raised its position in Visa by 54.1% in the first quarter. Evolve Private Wealth LLC now owns 9,010 shares of the credit-card processor’s stock worth $2,723,000 after acquiring an additional 3,164 shares during the period. Finally, Meadowbrook Advisors Group LLC boosted its stake in shares of Visa by 2.6% during the 1st quarter. Meadowbrook Advisors Group LLC now owns 15,570 shares of the credit-card processor’s stock worth $4,706,000 after acquiring an additional 395 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

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Insider Transactions at Visa

In other news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction dated Tuesday, May 12th. The stock was 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 of the company’s stock, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s 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 owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.

Visa Trading Up 0.7%

V stock opened at $328.95 on Wednesday. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $359.66. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $590.06 billion, a price-to-earnings ratio of 28.65, a PEG ratio of 1.74 and a beta of 0.77. The business has a 50 day simple moving average of $322.10 and a two-hundred day simple moving average of $324.18.

Visa (NYSE:VGet Free Report) last released its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter last year, the business posted $2.76 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 13.09 EPS 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 disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.67 per share. 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 dividend payout ratio is 23.34%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Evercore set a $350.00 price objective on Visa in a research note on Wednesday, April 29th. Truist Financial set a $371.00 price target on Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Citigroup decreased their price objective on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Finally, BMO Capital Markets initiated coverage on Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective on the stock. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Buy” and an average price target of $387.78.

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About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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