Glenview Trust co Has $28.48 Million Stock Position in Visa Inc. $V

Key Points

• Glenview Trust Co. has reduced its stake in Visa Inc. by 26.7%, selling 29,605 shares and bringing its total holdings to 81,274 shares valued at approximately $28.48 million.
• Visa's CEO, Ryan Mcinerney, significantly decreased his position by selling 8,630 shares at an average price of $353.82, leaving him with only 537 shares valued at around $190,001.
• Equities analysts have set a new average price target for Visa at $385.96, with multiple firms reiterating "buy" ratings and expectations for positive earnings growth.

Glenview Trust co reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 26.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,274 shares of the credit-card processor's stock after selling 29,605 shares during the quarter. Glenview Trust co's holdings in Visa were worth $28,483,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of V. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter worth about $26,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter worth about $27,000. 1 North Wealth Services LLC acquired a new stake in shares of Visa during the first quarter worth about $38,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa during the fourth quarter worth about $47,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the first quarter worth about $54,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on V. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Morgan Stanley upped their price objective on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Barclays reaffirmed an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Stock Up 1.5%

Shares of V stock traded up $5.16 on Thursday, hitting $343.28. 5,152,779 shares of the stock were exchanged, compared to its average volume of 4,970,029. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $347.41 and a 200 day moving average of $347.03. The firm has a market capitalization of $629.16 billion, a P/E ratio of 33.52, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last released its 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. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 earnings per share. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is 23.05%.

About Visa

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.