Visa Inc. (NYSE:V) Stock Position Lessened by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 274,397 shares of the credit-card processor’s stock after selling 7,371 shares during the period. Visa accounts for approximately 3.1% of Sanibel Captiva Trust Company Inc.’s portfolio, making the stock its 5th largest holding. Sanibel Captiva Trust Company Inc.’s holdings in Visa were worth $96,165,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in V. Vanguard Group Inc. raised its position in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after buying an additional 1,689,926 shares in the last quarter. Capital International Investors raised its position in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors raised its position in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on V. Citigroup began coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research note on Friday, March 21st. Finally, UBS Group raised their price objective on Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Stock Performance

Shares of V opened at $370.89 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a one year low of $252.70 and a one year high of $371.44. The company has a 50-day simple moving average of $346.49 and a two-hundred day simple moving average of $336.52. The firm has a market capitalization of $684.35 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the business earned $2.51 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa’s payout ratio is 23.72%.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock worth $58,645,479. Insiders own 0.13% of the company’s stock.

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.