Visa Inc (NYSE:V) Shares Sold by Washington Trust Bank

Washington Trust Bank decreased its stake in shares of Visa Inc (NYSE:V) by 8.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,797 shares of the credit-card processor’s stock after selling 4,528 shares during the period. Visa makes up 1.5% of Washington Trust Bank’s portfolio, making the stock its 16th biggest position. Washington Trust Bank’s holdings in Visa were worth $9,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in V. CBIZ Investment Advisory Services LLC acquired a new stake in Visa in the first quarter valued at approximately $25,000. AlphaMark Advisors LLC increased its holdings in Visa by 57.8% in the 1st quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 63 shares during the period. Cedar Mountain Advisors LLC increased its holdings in Visa by 102.6% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 80 shares during the period. CVA Family Office LLC bought a new stake in shares of Visa in the 1st quarter worth about $32,000. Finally, Price Wealth LLC lifted its position in Visa by 90.0% during the 2nd quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock worth $37,000 after buying an additional 90 shares in the last quarter. 81.41% of the stock is currently owned by institutional investors.

NYSE V traded down $3.66 on Friday, hitting $190.40. 14,186,004 shares of the company traded hands, compared to its average volume of 7,102,219. The company has a market capitalization of $377.15 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 3.09 and a beta of 0.92. The company has a current ratio of 1.55, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average price is $194.04 and its 200-day moving average price is $187.14. Visa Inc has a 52-week low of $133.93 and a 52-week high of $214.17.

Visa (NYSE:V) last released its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $1.37 earnings per share. Visa’s quarterly revenue was down 18.6% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc will post 4.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.30 dividend. The ex-dividend date is Thursday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. Visa’s payout ratio is 22.06%.

A number of analysts have recently commented on V shares. Cowen upped their price target on Visa from $189.00 to $196.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Zacks Investment Research raised Visa from a “sell” rating to a “hold” rating and set a $181.00 price target for the company in a report on Sunday, May 3rd. Piper Sandler lifted their target price on Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a report on Wednesday. Wells Fargo & Co raised their price target on Visa from $205.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Royal Bank of Canada raised their price target on Visa from $195.00 to $212.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $207.56.

In related news, President Ryan Mcinerney sold 26,150 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total value of $5,017,400.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $194.50, for a total value of $1,361,500.00. Following the completion of the sale, the chief executive officer now owns 136,090 shares in the company, valued at $26,469,505. The disclosure for this sale can be found here. Insiders sold 50,429 shares of company stock worth $9,746,754 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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