Trust Point Inc. Cuts Stake in Visa Inc. (NYSE:V)

Trust Point Inc. decreased its position in Visa Inc. (NYSE:V - Free Report) by 23.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,316 shares of the credit-card processor's stock after selling 4,148 shares during the quarter. Trust Point Inc.'s holdings in Visa were worth $4,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of V. Hanson & Doremus Investment Management boosted its position in Visa by 2.7% during the first quarter. Hanson & Doremus Investment Management now owns 22,329 shares of the credit-card processor's stock valued at $7,825,000 after buying an additional 595 shares during the period. Conway Capital Management Inc. grew its position in Visa by 7.6% during the 1st quarter. Conway Capital Management Inc. now owns 6,385 shares of the credit-card processor's stock worth $2,238,000 after acquiring an additional 450 shares during the last quarter. Acropolis Investment Management LLC increased its stake in Visa by 1.5% in the 1st quarter. Acropolis Investment Management LLC now owns 14,791 shares of the credit-card processor's stock worth $5,184,000 after purchasing an additional 223 shares during the period. Trust Co. of Toledo NA OH lifted its position in Visa by 0.3% in the first quarter. Trust Co. of Toledo NA OH now owns 17,009 shares of the credit-card processor's stock valued at $5,961,000 after purchasing an additional 50 shares during the last quarter. Finally, Morton Capital Management LLC CA boosted its stake in shares of Visa by 4.9% during the first quarter. Morton Capital Management LLC CA now owns 3,842 shares of the credit-card processor's stock valued at $1,346,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Down 4.9%

NYSE:V traded down $17.68 on Thursday, reaching $340.16. 14,994,861 shares of the stock traded hands, compared to its average volume of 7,036,736. The company's fifty day simple moving average is $351.38 and its 200 day simple moving average is $338.20. The company has a market capitalization of $627.64 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.41 and a beta of 0.94. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. 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 (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the business posted $2.51 EPS. The company's revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. Visa's dividend payout ratio is presently 23.72%.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Truist Financial initiated coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 target price for the company. Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five equities 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 14,813 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the sale, the insider now owns 26,413 shares of the company's stock, valued at $9,377,671.52. The trade was a 35.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock worth $36,738,526 over the last quarter. Company insiders own 0.13% of the company's stock.

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.