First Command Financial Services Inc. Grows Position in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jun 26th, 2023

First Command Financial Services Inc. boosted its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,617 shares of the credit-card processor’s stock after purchasing an additional 293 shares during the period. First Command Financial Services Inc.’s holdings in Visa were worth $1,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in shares of Visa by 1.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 799,904 shares of the credit-card processor’s stock valued at $166,188,000 after acquiring an additional 9,534 shares in the last quarter. Occidental Asset Management LLC lifted its position in shares of Visa by 4.3% in the fourth quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock valued at $2,326,000 after acquiring an additional 465 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Visa by 1.7% in the fourth quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock valued at $1,705,000 after acquiring an additional 140 shares in the last quarter. Foster Group Inc. purchased a new position in shares of Visa in the fourth quarter valued at about $210,000. Finally, Forsta AP Fonden lifted its position in shares of Visa by 25.8% in the fourth quarter. Forsta AP Fonden now owns 476,286 shares of the credit-card processor’s stock valued at $98,953,000 after acquiring an additional 97,600 shares in the last quarter. 84.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on V shares. Barclays lifted their target price on Visa from $270.00 to $272.00 in a report on Monday, May 1st. Robert W. Baird lifted their target price on Visa from $272.00 to $284.00 in a report on Wednesday, April 26th. BMO Capital Markets lifted their target price on Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. KeyCorp lifted their target price on Visa from $250.00 to $260.00 in a report on Monday, April 24th. Finally, Oppenheimer lifted their target price on Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $260.08.

Visa Stock Up 0.5 %

Shares of NYSE V opened at $229.55 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $430.02 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.76 and a beta of 0.97. The stock has a 50 day moving average price of $228.61 and a 200 day moving average price of $223.28. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $235.57.

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

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend payout ratio is currently 24.06%.

Insiders Place Their Bets

In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the company’s 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 sale, the chairman now owns 154,854 shares in the company, valued at $36,060,850.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the company’s 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 transaction, the chairman now directly owns 154,854 shares of the company’s stock, valued at $36,060,850.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tullier Kelly Mahon sold 54,146 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.55, for a total value of $12,591,652.30. Following the transaction, the insider now directly owns 26,674 shares in the company, valued at $6,203,038.70. The disclosure for this sale can be found here. Insiders sold a total of 116,277 shares of company stock worth $27,018,374 over the last 90 days. Company insiders own 0.21% of the company’s stock.

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.