First Interstate Bank Cuts Stake in Visa Inc. $V

First Interstate Bank reduced its holdings in shares of Visa Inc. (NYSE:VFree Report) by 46.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Visa in the 4th quarter worth approximately $5,877,738,000. Cardano Risk Management B.V. grew its holdings in shares of Visa by 867.6% during the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after purchasing an additional 7,364,762 shares during the last quarter. Diamant Asset Management Inc. raised its position in Visa by 29,706.3% in the 1st quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock worth $2,216,310,000 after purchasing an additional 7,308,345 shares during the period. J. Stern & Co. LLP raised its position in Visa by 12,497.1% in the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after purchasing an additional 3,351,223 shares during the period. Finally, Victory Capital Management Inc. raised its position in Visa by 48.2% in the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock worth $2,282,472,000 after purchasing an additional 2,116,463 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,219,704.26. This represents a 40.87% decrease in their position. 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. Insiders have sold 75,581 shares of company stock worth $25,627,975 over the last ninety days. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on V shares. Sanford C. Bernstein restated an “outperform” rating and set a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. UBS Group boosted their target price on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Six investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $397.91.

Check Out Our Latest Research Report on V

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Price Performance

Shares of NYSE V opened at $347.66 on Thursday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.02. The stock has a market capitalization of $623.62 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.88 and a beta of 0.75. The company’s 50-day moving average is $329.75 and its 200 day moving average is $324.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

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 business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $2.76 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 13.1 earnings per share for the current year.

Visa declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Visa Dividend Announcement

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

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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