Visa Inc. (NYSE:V) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC decreased its holdings in Visa Inc. (NYSE:V) by 11.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,772 shares of the credit-card processor’s stock after selling 343 shares during the period. Hemenway Trust Co LLC’s holdings in Visa were worth $774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nadler Financial Group Inc. boosted its position in shares of Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after purchasing an additional 44 shares during the period. Towerpoint Wealth LLC purchased a new position in Visa in the 4th quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. purchased a new position in Visa in the 4th quarter valued at approximately $3,427,000. Richelieu Gestion SA purchased a new position in Visa in the 4th quarter valued at approximately $307,000. Finally, Cooper Financial Group boosted its position in Visa by 6.4% in the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after buying an additional 476 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. TD Cowen assumed coverage on shares of Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price objective on the stock. Piper Sandler assumed coverage on shares of Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Citigroup raised their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $304.44.

Visa Price Performance

Shares of NYSE V traded up $1.90 on Friday, hitting $264.45. The company’s stock had a trading volume of 977,593 shares, compared to its average volume of 6,830,402. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96. The company has a market capitalization of $483.66 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a 50 day moving average of $272.88 and a 200-day moving average of $273.85.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.09 earnings per share. As a group, research analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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.