Coastline Trust Co Cuts Stock Holdings in Visa Inc. (NYSE:V)

Coastline Trust Co reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 33,920 shares of the credit-card processor's stock after selling 920 shares during the period. Visa makes up approximately 1.5% of Coastline Trust Co's portfolio, making the stock its 20th biggest holding. Coastline Trust Co's holdings in Visa were worth $11,888,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. NewSquare Capital LLC purchased a new stake in shares of Visa during the 4th quarter worth about $35,000. Sellwood Investment Partners LLC acquired a new position in Visa in the 4th quarter worth about $41,000. Mountain Hill Investment Partners Corp. purchased a new position in Visa during the fourth quarter worth approximately $47,000. Measured Risk Portfolios Inc. purchased a new position in Visa during the fourth quarter worth approximately $47,000. Finally, Navigoe LLC acquired a new stake in Visa in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,478 shares of company stock valued at $33,717,733. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on V shares. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. William Blair reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday. Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $372.84.

Visa Trading Up 1.3%

NYSE:V traded up $4.48 on Friday, hitting $358.70. The stock had a trading volume of 3,702,810 shares, compared to its average volume of 6,855,011. The company has a fifty day moving average price of $355.33 and a two-hundred day moving average price of $340.96. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market cap of $661.86 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.40 and a beta of 0.92.

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

Visa Dividend Announcement

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

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.