First Interstate Bank Cuts Position in Visa Inc. $V

First Interstate Bank lowered its holdings in Visa Inc. (NYSE:VFree Report) by 46.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,658 shares of the credit-card processor’s stock after selling 1,442 shares during the period. First Interstate Bank’s holdings in Visa were worth $501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ransom Advisory Ltd grew its holdings in Visa by 0.3% during the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock valued at $3,313,000 after purchasing an additional 30 shares during the period. Bank OZK raised its stake in shares of Visa by 3.7% in the third quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock valued at $293,000 after buying an additional 31 shares during the period. FOCUS Wealth Advisors LLC lifted its position in shares of Visa by 0.4% during the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock valued at $2,704,000 after buying an additional 31 shares during the last quarter. Planned Solutions Inc. lifted its position in shares of Visa by 2.0% during the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after buying an additional 31 shares during the last quarter. Finally, Frederick Financial Consultants LLC grew its stake in shares of Visa by 2.0% during the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after acquiring an additional 31 shares during the period. 82.15% of the stock is owned by institutional investors.

More Visa News

Here are the key news stories impacting Visa this week:

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. This represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,581 shares of company stock valued at $25,627,975 in the last quarter. Insiders own 0.12% of the company’s stock.

Visa Stock Performance

NYSE:V opened at $347.66 on Thursday. The stock has a market cap of $623.62 billion, a P/E ratio of 30.28, a PEG ratio of 1.88 and a beta of 0.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $329.75 and its two-hundred day moving average price is $324.89. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.02.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.Visa’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.76 earnings per share. As a group, equities analysts predict that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Visa Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group boosted their price objective on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Barclays initiated coverage on shares of Visa in a research report on Tuesday. They issued an “overweight” rating and a $420.00 price target on the stock. Morgan Stanley restated an “overweight” rating and set a $415.00 price target on shares of Visa in a research note on Wednesday, April 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Finally, BMO Capital Markets initiated coverage on shares of Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective for the company. Six research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus price target of $397.91.

Read Our Latest Report on V

Visa Company Profile

(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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