Members Trust Co Purchases 854 Shares of Visa Inc. (NYSE:V)

Members Trust Co grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 33.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,393 shares of the credit-card processor's stock after acquiring an additional 854 shares during the period. Members Trust Co's holdings in Visa were worth $1,189,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of V. Lakeridge Wealth Management LLC increased its holdings in shares of Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares during the period. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $306,000. Aptus Capital Advisors LLC boosted its position in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after acquiring an additional 30,185 shares in the last quarter. Eagle Strategies LLC boosted its position in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after acquiring an additional 63 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after acquiring an additional 43,546 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday. Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. Jefferies Financial Group increased their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Finally, Evercore ISI assumed coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $375.52.

Visa Trading Down 0.3%

Shares of NYSE:V traded down $0.91 during trading on Friday, reaching $348.90. The stock had a trading volume of 4,916,998 shares, compared to its average volume of 6,795,706. The firm's fifty day moving average is $356.90 and its 200 day moving average is $343.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The stock has a market cap of $643.78 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.37 and a beta of 0.92.

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

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is 23.72%.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was 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 owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa 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 sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock valued at $36,771,200 in the last three months. 0.13% of the stock is currently owned by insiders.

Visa 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.