City National Bank of Florida MSD Has $1.26 Million Stake in Visa Inc. (NYSE:V)

City National Bank of Florida MSD lifted its position in shares of Visa Inc. (NYSE:V - Free Report) by 26.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,593 shares of the credit-card processor's stock after buying an additional 748 shares during the quarter. Visa makes up 1.1% of City National Bank of Florida MSD's holdings, making the stock its 14th largest holding. City National Bank of Florida MSD's holdings in Visa were worth $1,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Egerton Capital UK LLP boosted its position in Visa by 11.1% during the first quarter. Egerton Capital UK LLP now owns 958,985 shares of the credit-card processor's stock valued at $336,086,000 after purchasing an additional 96,117 shares in the last quarter. Roundview Capital LLC boosted its position in Visa by 6.6% during the first quarter. Roundview Capital LLC now owns 48,136 shares of the credit-card processor's stock valued at $16,870,000 after purchasing an additional 2,991 shares in the last quarter. Advisors Preferred LLC purchased a new position in shares of Visa in the first quarter worth about $2,702,000. Forbes J M & Co. LLP raised its position in Visa by 1.0% during the first quarter. Forbes J M & Co. LLP now owns 65,835 shares of the credit-card processor's stock valued at $23,073,000 after acquiring an additional 674 shares in the last quarter. Finally, Vestor Capital LLC raised its position in Visa by 1.0% during the first quarter. Vestor Capital LLC now owns 39,793 shares of the credit-card processor's stock valued at $13,946,000 after acquiring an additional 405 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.8%

Visa stock traded up $2.96 during mid-day trading on Friday, hitting $356.93. 3,915,274 shares of the company's stock were exchanged, compared to its average volume of 5,404,370. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market cap of $658.60 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.39 and a beta of 0.92. Visa Inc. has a 1-year low of $254.51 and a 1-year high of $375.51. The stock has a 50 day moving average of $356.30 and a two-hundred day moving average of $345.00.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.51 earnings per share. As a group, analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on V shares. UBS Group lifted their price target on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Piper Sandler upped their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $375.52.

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.