Visa Inc. (NYSE:V) Shares Sold by New Hampshire Trust

Posted by Defense World Staff on Jul 2nd, 2023

New Hampshire Trust lowered its stake in shares of Visa Inc. (NYSE:V – Free Report) by 9.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,958 shares of the credit-card processor’s stock after selling 1,513 shares during the quarter. New Hampshire Trust’s holdings in Visa were worth $3,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keudell Morrison Wealth Management increased its stake in Visa by 0.4% in the 1st quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock valued at $2,652,000 after buying an additional 43 shares during the period. Hixon Zuercher LLC increased its stake in shares of Visa by 3.1% during the first quarter. Hixon Zuercher LLC now owns 1,666 shares of the credit-card processor’s stock worth $376,000 after acquiring an additional 50 shares during the period. Sather Financial Group Inc raised its holdings in Visa by 3.0% during the first quarter. Sather Financial Group Inc now owns 155,818 shares of the credit-card processor’s stock worth $35,131,000 after purchasing an additional 4,527 shares in the last quarter. Twelve Points Wealth Management LLC lifted its position in Visa by 2.5% in the first quarter. Twelve Points Wealth Management LLC now owns 4,642 shares of the credit-card processor’s stock valued at $1,047,000 after purchasing an additional 115 shares during the period. Finally, First Hawaiian Bank boosted its holdings in Visa by 9.1% in the 1st quarter. First Hawaiian Bank now owns 26,878 shares of the credit-card processor’s stock valued at $6,060,000 after purchasing an additional 2,247 shares in the last quarter. 84.92% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE:V opened at $237.48 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market cap of $444.88 billion, a PE ratio of 31.75, a P/E/G ratio of 1.79 and a beta of 0.97. The firm has a 50 day simple moving average of $228.31 and a 200-day simple moving average of $223.87. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $238.28.

Visa (NYSE:V – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The company had revenue of $7.99 billion for 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%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.79 EPS. On average, equities analysts expect that Visa Inc. will post 8.58 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is 24.06%.

Insider Activity

In related news, insider Tullier Kelly Mahon sold 54,146 shares of the business’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 value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Visa news, insider Tullier Kelly Mahon sold 54,146 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was 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 owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $232.87, for a total value of $1,746,525.00. Following the sale, the chairman now owns 154,854 shares of the company’s stock, valued at $36,060,850.98. The disclosure for this sale can be found here. Insiders sold a total of 116,277 shares of company stock valued at $27,018,374 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

V has been the subject of several recent analyst reports. Truist Financial raised their price target on Visa from $260.00 to $270.00 in a report on Wednesday, April 26th. KeyCorp boosted their target price on shares of Visa from $250.00 to $260.00 in a research report on Monday, April 24th. Royal Bank of Canada increased their price target on shares of Visa from $262.00 to $265.00 in a report on Wednesday, April 26th. Barclays boosted their price objective on shares of Visa from $270.00 to $272.00 in a report on Monday, May 1st. Finally, BMO Capital Markets increased their target price on shares of Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $260.08.

About Visa

(Free Report)

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.