Community Trust & Investment Co. Has $40.13 Million Position in Visa Inc. $V

Key Points

• Community Trust & Investment Co. reduced its stake in Visa Inc. by 0.9%, holding 113,038 shares valued at $40.13 million, making it the company's 10th largest position.
• Visa reported earnings of $2.98 per share for the last quarter, exceeding expectations with revenue of $10.17 billion, a 14.3% year-over-year increase.
• The company's stock is currently trading at $338.45, having a market capitalization of $620.32 billion with a P/E ratio of 33.05.

Community Trust & Investment Co. cut its stake in Visa Inc. (NYSE:V - Free Report) by 0.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,038 shares of the credit-card processor's stock after selling 1,003 shares during the period. Visa makes up about 2.3% of Community Trust & Investment Co.'s portfolio, making the stock its 10th biggest holding. Community Trust & Investment Co.'s holdings in Visa were worth $40,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of V. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new stake in Visa in the first quarter worth $27,000. 1 North Wealth Services LLC bought a new position in shares of Visa in the first quarter worth $38,000. Anderson Financial Strategies LLC bought a new stake in Visa during the first quarter valued at $53,000. Finally, O Brien Wealth Partners LLC bought a new stake in Visa during the first quarter worth about $54,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on V shares. Truist Financial decreased their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Morgan Stanley upped their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Price Performance

NYSE V traded up $3.89 during trading hours on Friday, hitting $342.07. 13,657,860 shares of the company's stock traded hands, compared to its average volume of 4,986,314. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The company has a market capitalization of $626.94 billion, a PE ratio of 33.41, a PEG ratio of 2.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm's 50-day moving average is $345.70 and its 200-day moving average is $346.41.

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 for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the prior year, the company posted $2.42 EPS. The business's revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio is 23.05%.

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.