Capital City Trust Co. FL Reduces Stock Position in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 10th, 2023

Capital City Trust Co. FL decreased its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,799 shares of the credit-card processor’s stock after selling 297 shares during the quarter. Visa comprises 1.8% of Capital City Trust Co. FL’s holdings, making the stock its 14th largest position. Capital City Trust Co. FL’s holdings in Visa were worth $5,568,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. acquired a new position in Visa in the third quarter valued at approximately $26,000. Global Wealth Strategies & Associates purchased a new stake in Visa in the fourth quarter valued at $26,000. Cowa LLC acquired a new position in shares of Visa in the 3rd quarter valued at $29,000. JDM Financial Group LLC purchased a new position in shares of Visa during the 4th quarter worth $29,000. Finally, McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Visa during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 81.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on V. JPMorgan Chase & Co. upped their target price on shares of Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. Morgan Stanley upped their price objective on shares of Visa from $284.00 to $288.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Robert W. Baird lifted their target price on shares of Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, January 19th. Credit Suisse Group upped their price target on Visa from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Thursday, March 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.

Insiders Place Their Bets

In related news, insider Rajat Taneja sold 61,721 shares of Visa stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $53,367,191.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Julie B. Rottenberg sold 13,394 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $219.00, for a total value of $2,933,286.00. Following the completion of the sale, the general counsel now owns 4,583 shares in the company, valued at approximately $1,003,677. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rajat Taneja sold 61,721 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at $53,367,191.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,115 shares of company stock valued at $30,115,598. 0.22% of the stock is owned by corporate insiders.

Visa Price Performance

Visa stock opened at $225.99 on Monday. The stock has a market cap of $425.09 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a fifty day simple moving average of $223.74 and a 200-day simple moving average of $211.12. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. Visa Inc. has a 12-month low of $174.60 and a 12-month high of $234.30.

Visa (NYSE:V – Get Rating) last announced its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. Visa had a return on equity of 49.95% and a net margin of 50.28%. The company had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.70 billion. During the same period in the previous year, the business earned $1.81 EPS. Visa’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts expect that Visa Inc. will post 8.43 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were paid a $0.45 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.80%. The ex-dividend date was Thursday, February 9th. Visa’s dividend payout ratio is currently 25.17%.

Visa Company Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).