Pioneer Trust Bank N A OR Reduces Stake in Visa Inc. (NYSE:V)

Pioneer Trust Bank N A OR lowered its position in Visa Inc. (NYSE:V - Free Report) by 11.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,673 shares of the credit-card processor's stock after selling 3,607 shares during the period. Visa makes up approximately 2.6% of Pioneer Trust Bank N A OR's investment portfolio, making the stock its 12th largest holding. Pioneer Trust Bank N A OR's holdings in Visa were worth $10,049,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in Visa in the 1st quarter worth approximately $27,000. Sellwood Investment Partners LLC purchased a new stake in Visa in the 4th quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in Visa in the 4th quarter worth approximately $47,000. Measured Risk Portfolios Inc. purchased a new stake in Visa in the 4th quarter worth approximately $47,000. Finally, Navigoe LLC purchased a new stake in Visa in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE V opened at $350.45 on Tuesday. The stock has a market cap of $646.63 billion, a PE ratio of 35.22, a P/E/G ratio of 2.36 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The stock has a fifty day simple moving average of $356.96 and a 200-day simple moving average of $343.09.

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

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 23.72%.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the 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 owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 in the last three months. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on V shares. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group started coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Finally, Evercore ISI started coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Five equities research 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $372.84.

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.

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