Patriot Investment Management Group Inc. reduced its holdings in Visa Inc. (NYSE:V – Free Report) by 3.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,444 shares of the credit-card processor’s stock after selling 77 shares during the period. Patriot Investment Management Group Inc.’s holdings in Visa were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in V. BCK Partners Inc. purchased a new stake in Visa during the first quarter worth $2,717,000. Markel Corp boosted its holdings in Visa by 0.3% during the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after buying an additional 3,065 shares in the last quarter. AMI Investment Management Inc. purchased a new stake in Visa during the first quarter worth $2,323,000. Ergoteles LLC purchased a new stake in Visa during the first quarter worth $538,000. Finally, XTX Topco Ltd purchased a new stake in Visa during the first quarter worth $1,496,000. 84.92% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Visa
In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the firm’s stock in a transaction on 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 directly owns 154,854 shares in the company, valued at $36,060,850.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Vasant M. Prabhu sold 13,343 shares of Visa stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the sale, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,250,437.88. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of Visa stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following 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. Over the last three months, insiders have sold 116,277 shares of company stock worth $27,018,374. 0.21% of the stock is owned by insiders.
Visa Stock Performance
Visa (NYSE:V – Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.12. Visa had a return on equity of 50.21% and a net margin of 50.95%. The firm had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.79 billion. During the same period last year, the business posted $1.79 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 8.58 EPS 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 paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s payout ratio is 24.06%.
Analyst Ratings Changes
V has been the subject of a number of research analyst reports. 22nd Century Group restated a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. Oppenheimer increased their target price 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. KeyCorp increased their target price on shares of Visa from $250.00 to $260.00 in a research report on Monday, April 24th. Truist Financial increased their target price on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird increased their target price on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $260.08.
About Visa
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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