Sanibel Captiva Trust Company Inc. Reduces Position in Visa Inc. (NYSE:V)

Sanibel Captiva Trust Company Inc. lowered its holdings in Visa Inc. (NYSE:V - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 274,397 shares of the credit-card processor's stock after selling 7,371 shares during the period. Visa makes up 3.1% of Sanibel Captiva Trust Company Inc.'s investment portfolio, making the stock its 5th largest position. Sanibel Captiva Trust Company Inc.'s holdings in Visa were worth $96,165,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital & Planning LLC raised its holdings in shares of Visa by 21.2% during the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock valued at $300,000 after buying an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC purchased a new position in shares of Visa during the 4th quarter valued at about $424,000. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Visa during the 4th quarter valued at about $202,074,000. Finally, Revolve Wealth Partners LLC raised its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Down 5.0%

Shares of NYSE V traded down $18.65 during mid-day trading on Friday, hitting $352.75. 14,176,249 shares of the stock traded hands, compared to its average volume of 7,017,457. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. The stock has a fifty day moving average price of $349.76 and a 200-day moving average price of $337.45.

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, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company posted $2.51 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given 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 0.67%. Visa's dividend payout ratio is presently 23.72%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,448 shares of company stock worth $50,133,659 over the last ninety days. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

V has been the topic of a number of research reports. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Macquarie decreased their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Truist Financial started coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 price target on the stock. UBS Group lifted their price target on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

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.