1,725 Shares in Visa Inc. (NYSE:V) Acquired by Investment Counsel Co. of Nevada

Key Points

• Investment Counsel Co. of Nevada acquired 1,725 shares of Visa Inc., valued at approximately $605,000, making it the 14th largest position in their portfolio.
• Insider Paul D. Fabara sold 46,214 shares of Visa for $17.1 million, representing a 63.63% decrease in his ownership of the company.
• Visa's stock has received mixed analyst ratings, with an average target price now at $380.84 and a consensus rating of "Moderate Buy."

Investment Counsel Co. of Nevada bought a new position in shares of Visa Inc. (NYSE:V - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,725 shares of the credit-card processor's stock, valued at approximately $605,000. Visa accounts for about 1.4% of Investment Counsel Co. of Nevada's portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. von Borstel & Associates Inc. bought a new position in shares of Visa in the 1st quarter worth $27,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa in the 4th quarter worth $47,000. Navigoe LLC bought a new position in shares of Visa during the 4th quarter valued at $53,000. O Brien Wealth Partners LLC bought a new position in shares of Visa during the 1st quarter valued at $54,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of Visa during the 1st quarter valued at $56,000. Institutional investors own 82.15% of the company's stock.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,913 shares of company stock valued at $32,902,432 over the last ninety days. Corporate insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

V has been the topic of several recent research reports. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Barclays reissued an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $380.84.

Visa Trading Up 0.8%

Shares of NYSE V opened at $342.12 on Tuesday. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51. The stock has a market cap of $631.27 billion, a P/E ratio of 33.41, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94. The firm has a 50-day moving average of $354.82 and a 200 day moving average of $346.91. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the company posted $2.42 EPS. Visa's revenue was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is 23.05%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.

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