Visa Inc. (NYSE:V) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Visa Inc. by 2.3%, owning approximately 1,011,715 shares worth $354.57 million as of the latest reporting period.
• Visa reported a quarterly earnings per share (EPS) of $2.98, exceeding analyst estimates, with a revenue increase of 14.3% year-over-year to $10.17 billion.
• The company declared a quarterly dividend of $0.59 per share, resulting in an annualized dividend yield of 0.7%.

US Bancorp DE decreased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 2.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,011,715 shares of the credit-card processor's stock after selling 23,501 shares during the period. US Bancorp DE owned 0.05% of Visa worth $354,574,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the first quarter worth $27,000. Measured Risk Portfolios Inc. acquired a new stake in shares of Visa in the fourth quarter worth $47,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the first quarter worth $54,000. Global X Japan Co. Ltd. acquired a new stake in shares of Visa in the first quarter worth $56,000. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of Visa by 28.5% in the first quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock valued at $59,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

Shares of Visa stock traded down $6.66 during trading hours on Friday, reaching $338.81. The company's stock had a trading volume of 8,655,366 shares, compared to its average volume of 5,746,410. The company's 50 day simple moving average is $355.06 and its 200 day simple moving average is $346.34. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.12. Visa Inc. has a one year low of $254.51 and a one year high of $375.51. The stock has a market cap of $625.16 billion, a P/E ratio of 33.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the firm posted $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 46,214 shares of the firm's 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 transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,913 shares of company stock worth $32,902,432. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on V shares. Piper Sandler upped their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, UBS Group restated a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

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.