Trust Co of Kansas trimmed its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 15.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,906 shares of the credit-card processor’s stock after selling 2,323 shares during the period. Visa accounts for approximately 1.5% of Trust Co of Kansas’ holdings, making the stock its 23rd largest holding. Trust Co of Kansas’ holdings in Visa were worth $2,293,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the business. Bishop Rock Capital L.P. lifted its holdings in Visa by 20,610.1% during the 2nd quarter. Bishop Rock Capital L.P. now owns 5,031,721 shares of the credit-card processor’s stock worth $25,556,000 after buying an additional 5,007,425 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Visa by 290.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,428,383 shares of the credit-card processor’s stock valued at $786,702,000 after acquiring an additional 3,295,642 shares during the period. Alliancebernstein L.P. boosted its holdings in Visa by 7.0% in the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after acquiring an additional 1,785,695 shares during the last quarter. Voya Investment Management LLC increased its position in Visa by 222.7% in the second quarter. Voya Investment Management LLC now owns 2,499,636 shares of the credit-card processor’s stock worth $492,154,000 after purchasing an additional 1,724,984 shares during the period. Finally, Great West Life Assurance Co. Can bought a new stake in Visa during the 3rd quarter worth about $291,294,000. Institutional investors own 81.87% of the company’s stock.
Analyst Ratings Changes
V has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Thursday, January 19th. Wells Fargo & Company increased their price target on shares of Visa from $250.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. Redburn Partners assumed coverage on shares of Visa in a report on Tuesday, November 29th. They set a “sell” rating for the company. Barclays increased their target price on shares of Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Sunday, January 29th. Finally, Truist Financial boosted their price target on shares of Visa from $235.00 to $260.00 in a report on Friday, January 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $259.11.
Visa Price Performance
Visa (NYSE:V – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.17. The firm had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.81 EPS. As a group, sell-side analysts predict that Visa Inc. will post 8.43 earnings per share for the current fiscal year.
Visa Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, February 9th. This is a positive change from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.83%. Visa’s payout ratio is currently 25.17%.
In other news, President Ryan Mcinerney sold 58,197 shares of Visa stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Visa news, insider Rajat Taneja sold 61,721 shares of the stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $53,367,191.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Ryan Mcinerney sold 58,197 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,312 shares of company stock valued at $33,751,165. 0.21% of the stock is owned by company insiders.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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