Visa Inc. (NYSE:V) is Community Trust & Investment Co.'s 9th Largest Position

Community Trust & Investment Co. trimmed its position in Visa Inc. (NYSE:V - Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,041 shares of the credit-card processor's stock after selling 10,869 shares during the quarter. Visa accounts for 2.6% of Community Trust & Investment Co.'s holdings, making the stock its 9th largest holding. Community Trust & Investment Co.'s holdings in Visa were worth $39,967,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC grew its stake 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 buying an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC acquired a new position in Visa in the 4th quarter worth about $306,000. Aptus Capital Advisors LLC raised its position in Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after purchasing an additional 30,185 shares during the last quarter. King Wealth Management Group boosted its stake in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after purchasing an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC boosted its stake in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Finally, BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on 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 now directly owns 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock worth $36,738,526 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 0.7%

NYSE V traded down $2.34 on Friday, hitting $338.04. 19,324,696 shares of the company were exchanged, compared to its average volume of 6,685,507. 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. The company has a market cap of $623.73 billion, a PE ratio of 33.97, a PEG ratio of 2.29 and a beta of 0.94. The stock has a fifty day moving average of $351.69 and a 200-day moving average of $338.37.

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 company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the business posted $2.51 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. Visa's dividend payout ratio is 23.72%.

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.