Visa Inc. (NYSE:V) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lessened its holdings in shares of Visa Inc. (NYSE:V) by 6.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 113,474 shares of the credit-card processor’s stock after selling 8,075 shares during the quarter. Visa comprises about 1.0% of OLD National Bancorp IN’s holdings, making the stock its 15th biggest holding. OLD National Bancorp IN’s holdings in Visa were worth $39,768,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Bradley & Co. Private Wealth Management LLC acquired a new stake in Visa in the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC raised its holdings in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in Visa in the fourth quarter valued at approximately $32,000. NewSquare Capital LLC acquired a new stake in Visa in the fourth quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. raised its holdings in Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock worth $58,645,479 in the last three months. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V opened at $370.44 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market cap of $683.52 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company’s 50 day simple moving average is $345.45 and its 200-day simple moving average is $335.70. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.00.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $2.51 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s dividend payout ratio (DPR) is 23.72%.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a “neutral” rating on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and increased their price target for the company from $359.00 to $425.00 in a research note on Thursday. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $372.80.

About Visa

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.