Security National Bank decreased its position in shares of Visa Inc. (NYSE:V – Free Report) by 5.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,463 shares of the credit-card processor’s stock after selling 2,205 shares during the period. Visa comprises 2.4% of Security National Bank’s holdings, making the stock its 9th largest holding. Security National Bank’s holdings in Visa were worth $8,897,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the company. Auxano Advisors LLC increased its stake in shares of Visa by 0.3% in the 4th quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock valued at $2,951,000 after acquiring an additional 45 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in Visa by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock worth $657,000 after purchasing an additional 45 shares during the period. Domani Wealth LLC increased its stake in Visa by 2.7% in the fourth quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock valued at $359,000 after purchasing an additional 46 shares in the last quarter. Pitti Group Wealth Management LLC raised its holdings in shares of Visa by 1.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 3,802 shares of the credit-card processor’s stock valued at $790,000 after purchasing an additional 46 shares during the period. Finally, S.C. Financial Services Inc. boosted its position in shares of Visa by 2.3% during the 4th quarter. S.C. Financial Services Inc. now owns 2,140 shares of the credit-card processor’s stock worth $445,000 after purchasing an additional 49 shares in the last quarter. 84.92% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently commented on V shares. Citigroup boosted their target price on Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. Royal Bank of Canada increased their target price on Visa from $262.00 to $265.00 in a report on Wednesday, April 26th. Oppenheimer lifted their price target on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. BMO Capital Markets upped their price objective on shares of Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. Finally, Barclays boosted their target price on shares of Visa from $270.00 to $272.00 in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $260.08.
Visa Trading Up 0.3 %
Visa (NYSE:V – Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.12. The company had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.79 earnings per share. Equities research analysts anticipate that Visa Inc. will post 8.59 EPS for the current year.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a $0.45 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.79%. Visa’s dividend payout ratio (DPR) is presently 24.06%.
Insider Buying and Selling
In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the sale, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Vasant M. Prabhu sold 40,000 shares of the stock in a transaction on Friday, April 28th. The stock was sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the completion of the transaction, the chief financial officer now owns 73,638 shares in the company, valued at approximately $17,036,887.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $232.87, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 116,277 shares of company stock valued at $27,018,374. 0.22% of the stock is owned by company insiders.
Visa Profile
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.
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