Town & Country Bank & Trust CO dba First Bankers Trust CO Cuts Stock Position in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jun 25th, 2023

Town & Country Bank & Trust CO dba First Bankers Trust CO trimmed its position in shares of Visa Inc. (NYSE:V – Get Rating) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,546 shares of the credit-card processor’s stock after selling 77 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Visa were worth $1,025,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in V. BCK Partners Inc. acquired a new stake in Visa during the 1st quarter valued at $2,717,000. Markel Corp grew its holdings in Visa by 0.3% during the 1st 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 in the last quarter. AMI Investment Management Inc. acquired a new position in Visa during the 1st quarter worth $2,323,000. Ergoteles LLC acquired a new position in Visa during the 1st quarter worth $538,000. Finally, XTX Topco Ltd acquired a new position in Visa during the 1st quarter worth $1,496,000. 84.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Citigroup raised their price objective on shares of Visa from $270.00 to $273.00 in a report on Wednesday, April 26th. Truist Financial raised their price objective on shares of Visa from $260.00 to $270.00 in a report on Wednesday, April 26th. KeyCorp raised their price objective on shares of Visa from $250.00 to $260.00 in a report on Monday, April 24th. Royal Bank of Canada raised their price target on shares of Visa from $262.00 to $265.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer raised their price target on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.08.

Visa Trading Up 0.5 %

Shares of NYSE:V opened at $229.55 on Friday. The company has a market cap of $430.02 billion, a PE ratio of 30.69, a P/E/G ratio of 1.76 and a beta of 0.97. The company’s 50-day moving average price is $228.61 and its 200 day moving average price is $223.17. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $235.57. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Visa (NYSE:V – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.79 billion. During the same period in the previous year, the firm earned $1.79 EPS. Visa’s revenue was up 11.1% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc. will post 8.59 earnings per share for the current year.

Visa Dividend Announcement

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 0.78%. Visa’s dividend payout ratio (DPR) is 24.06%.

Insiders Place Their Bets

In other news, CFO Vasant M. Prabhu sold 40,000 shares of Visa stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total value of $9,254,400.00. Following the transaction, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,036,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Vasant M. Prabhu sold 40,000 shares of Visa stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total value of $9,254,400.00. Following the transaction, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,036,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 directly 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 have sold 116,277 shares of company stock worth $27,018,374. 0.22% of the stock is owned by corporate insiders.

Visa Company 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.