Visa Inc. (NYSE:V) Shares Sold by Pacific Capital Wealth Advisors Inc.

Posted by Defense World Staff on Jun 15th, 2023

Pacific Capital Wealth Advisors Inc. lowered its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 32.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,066 shares of the credit-card processor’s stock after selling 1,455 shares during the period. Pacific Capital Wealth Advisors Inc.’s holdings in Visa were worth $637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. BCK Partners Inc. purchased a new stake in shares of Visa in the first quarter valued at $2,717,000. Markel Corp boosted its position in shares of Visa by 0.3% in the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after acquiring an additional 3,065 shares during the last quarter. AMI Investment Management Inc. purchased a new stake in Visa in the first quarter valued at approximately $2,323,000. Ergoteles LLC acquired a new position in Visa during the first quarter worth approximately $538,000. Finally, XTX Topco Ltd purchased a new position in Visa during the first quarter worth approximately $1,496,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Visa Stock Up 0.0 %

Visa stock opened at $223.44 on Thursday. The firm has a market capitalization of $418.57 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.71 and a beta of 0.97. The company has a 50-day simple moving average of $228.72 and a 200-day simple moving average of $222.46. Visa Inc. has a one year low of $174.60 and a one year high of $235.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Visa (NYSE:V – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. Visa had a net margin of 50.95% and a return on equity of 50.21%. The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same quarter last year, the business earned $1.79 earnings per share. Visa’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 8.59 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.81%. Visa’s dividend payout ratio (DPR) is 24.06%.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Truist Financial upped their price target on Visa from $260.00 to $270.00 in a report on Wednesday, April 26th. StockNews.com began coverage on shares of Visa in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Robert W. Baird upped their price objective on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. Royal Bank of Canada lifted their target price on Visa from $262.00 to $265.00 in a research report on Wednesday, April 26th. Finally, Citigroup raised their price objective on Visa from $270.00 to $273.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.08.

Insider Transactions at Visa

In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the completion of the transaction, the chairman now directly owns 154,854 shares of the company’s stock, valued at approximately $36,060,850.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Tullier Kelly Mahon sold 54,146 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the completion of the sale, the insider now directly owns 26,674 shares in the company, valued at $6,203,038.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of Visa stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the completion of the transaction, the chairman now owns 154,854 shares in the company, valued at approximately $36,060,850.98. The disclosure for this sale can be found here. In the last three months, insiders sold 116,277 shares of company stock valued at $27,018,374. Company insiders own 0.22% of the company’s stock.

Visa Profile

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Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.