Diversified Trust Co Sells 11,251 Shares of Visa Inc. $V

Key Points

• Diversified Trust Co reduced its Visa stake by 12.1% in the first quarter, selling 11,251 shares and leaving it with 82,009 shares valued at about $24.8 million.
• Visa reported strong quarterly results, with EPS of $3.31 beating estimates and revenue of $11.23 billion topping forecasts, while revenue rose 17.1% year over year.
• The company also announced a $20 billion share buyback and paid a quarterly dividend of $0.67 per share, while analysts remain largely bullish with an average Buy rating and target price of about $387.78.

Diversified Trust Co trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 12.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 82,009 shares of the credit-card processor's stock after selling 11,251 shares during the quarter. Diversified Trust Co's holdings in Visa were worth $24,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Clayton Financial Group LLC lifted its stake in shares of Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock worth $25,000 after buying an additional 58 shares in the last quarter. PayPay Securities Corp increased its position in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock valued at $26,000 after acquiring an additional 38 shares in the last quarter. Cresta Advisors Ltd. bought a new stake in shares of Visa during the fourth quarter valued at approximately $26,000. Parvin Asset Management LLC raised its holdings in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Finally, Dorato Capital Management purchased a new position in Visa in the 4th quarter worth approximately $30,000. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.2%

Shares of V stock opened at $327.78 on Tuesday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $359.66. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm's 50 day moving average is $321.61 and its 200 day moving average is $324.18. The stock has a market capitalization of $587.96 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.75 and a beta of 0.77.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts' consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm's revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.76 EPS. Research analysts expect that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa's dividend payout ratio (DPR) is 23.34%.

Visa declared that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. UBS Group increased their target price on Visa from $390.00 to $410.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Citigroup decreased their price target on Visa from $450.00 to $400.00 and set a "buy" rating for the company in a research note on Tuesday, April 14th. BMO Capital Markets assumed coverage on Visa in a research report on Tuesday, April 21st. They set an "outperform" rating and a $365.00 price objective on the stock. Weiss Ratings downgraded Visa from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, April 16th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price objective on shares of Visa in a report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Visa has an average rating of "Buy" and an average target price of $387.78.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company's stock, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares of the company's stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.12% of the company's stock.

Visa Company 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.

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