Visa Inc. $V Shares Sold by Central Bank & Trust Co.

Key Points

• Central Bank & Trust Co. decreased its stake in Visa Inc. by 2.2% in Q2, holding 37,371 shares, valued at approximately $13.27 million.
• Visa's stock has seen strong performance with a 0.3% increase, and analysts project further growth with several raising price targets, including a recent target of $425.00 from Macquarie.
• Recently, Visa announced a quarterly dividend of $0.59 per share, reflecting an annualized yield of 0.7% with a payout ratio of 23.05%.

Central Bank & Trust Co. reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,371 shares of the credit-card processor's stock after selling 824 shares during the period. Visa makes up about 2.2% of Central Bank & Trust Co.'s portfolio, making the stock its 10th biggest holding. Central Bank & Trust Co.'s holdings in Visa were worth $13,269,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new position in Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. acquired a new position in Visa in the 1st quarter valued at $27,000. 1 North Wealth Services LLC acquired a new position in Visa in the 1st quarter valued at $38,000. Anderson Financial Strategies LLC acquired a new position in Visa in the 1st quarter valued at $53,000. Finally, O Brien Wealth Partners LLC acquired a new position in Visa in the 1st quarter valued at $54,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays reiterated an "overweight" rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Macquarie lifted their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Up 0.3%

Shares of V opened at $339.92 on Wednesday. The company has a market capitalization of $623.00 billion, a PE ratio of 33.20, a PEG ratio of 2.26 and a beta of 0.92. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The stock's 50-day moving average price is $346.38 and its two-hundred day moving average price is $346.64. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business 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 of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is presently 23.05%.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.

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