Visa Inc. $V Shares Sold by Washington Trust Advisors Inc.

Washington Trust Advisors Inc. decreased its stake in Visa Inc. (NYSE:V) by 4.8% during the 2nd quarter, Holdings Channel reports. The firm owned 129,395 shares of the credit-card processor’s stock after selling 6,522 shares during the quarter. Visa makes up approximately 3.3% of Washington Trust Advisors Inc.’s investment portfolio, making the stock its 7th largest position. Washington Trust Advisors Inc.’s holdings in Visa were worth $44,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Parvin Asset Management LLC raised its position in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Philadelphia Investment Partners LLC acquired a new stake in Visa in the 2nd quarter valued at about $29,000. Virtus Advisers LLC purchased a new position in Visa in the 2nd quarter worth approximately $33,000. RHL Group LLC purchased a new position in Visa in the 4th quarter worth approximately $34,000. Finally, Timmons Wealth Management LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.2%

V stock opened at $374.46 on Monday. The firm has a market cap of $668.20 billion, a PE ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50 day moving average price is $363.63 and its 200-day moving average price is $333.40. Visa Inc. has a one year low of $293.89 and a one year high of $385.57.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.98 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio is currently 22.79%.

Insider Buying and Selling

In other Visa news, insider Tullier Mahon sold 57,272 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the transaction, the insider owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Julie Rottenberg sold 2,028 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $7,018,365.40. This trade represents a 9.93% 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. In the last ninety days, insiders sold 104,537 shares of company stock valued at $37,540,837. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. UBS Group restated a “buy” rating and issued a $420.00 price target (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Wolfe Research reissued an “outperform” rating and set a $460.00 price objective (up from $435.00) on shares of Visa in a research note on Tuesday, August 25th. Raymond James Financial restated an “outperform” rating and issued a $406.00 target price on shares of Visa in a report on Wednesday, July 29th. Truist Financial set a $406.00 target price on Visa and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $432.00 price target (up from $412.00) on shares of Visa in a report on Thursday, July 30th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $416.62.

Visa 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.