Home Consulate CENTRAL TRUST Co reduces its equity holding in Visa Inc. (NYSE: V)

CENTRAL TRUST Co reduces its equity holding in Visa Inc. (NYSE: V)

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CENTRAL TRUST Co reduced its position in Visa Inc. (NYSE:V – Get Rating) shares by 3.1% during the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 86,429 shares of the credit card processor after selling 2,774 shares during the quarter. CENTRAL TRUST Co’s holdings in Visa were worth $19,168,000 as of the date of its last filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently been buying and selling shares of the company. Capital Advisors Wealth Management LLC increased its holdings of Visa shares by 0.4% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 10,563 shares of the credit card processor valued at $2,289,000 after acquiring 45 additional shares in the last quarter. Corbett Road Capital Management LLC increased its stake in Visa shares by 3.1% during the fourth quarter. Corbett Road Capital Management LLC now owns 1,486 shares of the credit card processor valued at $322,000 after acquiring 45 additional shares last quarter. Financial Consulate Inc. increased its holding of Visa shares by 1.0% during the fourth quarter. Financial Consulate Inc. now owns 4,851 shares of the credit card processor valued at $1,051,000 after acquiring 46 more shares in the last quarter. Tranquilli Financial Advisor LLC increased its holdings of Visa shares by 3.1% during the fourth quarter. Tranquilli Financial Advisor LLC now owns 1,537 shares of the credit card processor valued at $333,000 after acquiring 46 additional shares last quarter. Finally, Cross Staff Investments Inc increased its holding in Visa shares by 0.7% during the first quarter. Cross Staff Investments Inc now owns 6,801 shares of the credit card processor valued at $1,508,000 after acquiring 47 additional shares last quarter. 80.77% of the shares are held by hedge funds and other institutional investors.

Visa shares down 1.2%

V stock opened at $213.70 on Monday. Visa Inc. has a 12-month low of $185.91 and a 12-month high of $252.67. The company has a quick ratio of 1.29, a current ratio of 1.29 and a leverage ratio of 0.53. The stock has a market capitalization of $406.30 billion, a P/E ratio of 33.60, a PEG ratio of 1.84 and a beta of 0.90. The company’s 50-day moving average price is $203.66 and its 200-day moving average price is $210.65.

Visa (NYSE:V – Get Rating) last released quarterly earnings data on Tuesday, April 26. The credit card processor reported earnings per share of $1.79 for the quarter, beating analyst consensus estimates of $1.65 by $0.14. Visa had a return on equity of 42.89% and a net margin of 51.10%. The company posted revenue of $7.19 billion for the quarter, versus $6.82 billion expected by analysts. During the same period of the previous year, the company achieved EPS of $1.38. The company’s quarterly revenue increased 25.5% year over year. On average, equity research analysts expect Visa Inc. to post EPS of 7.17 for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Friday, May 13 received a dividend of $0.375 per share. The ex-dividend date was Thursday, May 12. This represents a dividend of $1.50 on an annualized basis and a dividend yield of 0.70%. Visa’s payout ratio is currently 23.58%.

Insider activity

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company in a trade that took place on Tuesday, May 31. The stock was sold at an average price of $210.38, for a total value of $1,893,420.00. As a result of the transaction, the CEO now directly owns 162,887 shares of the company, valued at approximately $34,268,167.06. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Insiders sold a total of 27,000 shares of the company valued at $5,619,330 in the past ninety days. Company insiders own 0.21% of the company’s shares.

Analyst upgrades and downgrades

V has been the subject of several analyst reports. Barclays cut its price target on Visa from $265.00 to $260.00 and set an “overweight” rating for the company in a Monday, April 4 report. Truist Financial cut its price target on Visa from $275.00 to $250.00 in a Thursday, June 30 report. Credit Suisse Group raised its price target on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a Wednesday, April 27 report. Piper Sandler cut her price target on Visa from $239.00 to $204.00 and set an “overweight” rating for the company in a Wednesday, July 6 report. Finally, Mizuho cut its price target on Visa from $235.00 to $215.00 and set a “neutral” rating for the company in a Friday, July 1 report. Four analysts gave the stock a hold rating and twenty-one gave the stock a buy rating. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $262.00.

Visa Profile

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Visa Inc operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.

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Institutional ownership by quarter for Visa (NYSE:V)



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