Sabal Trust CO Reduces Stock Position in Visa Inc. (NYSE:V)

Sabal Trust CO lessened its stake in Visa Inc. (NYSE:V) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,100 shares of the credit-card processor’s stock after selling 450 shares during the period. Sabal Trust CO’s holdings in Visa were worth $6,343,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Visa in the 4th quarter worth approximately $27,000. NewSquare Capital LLC bought a new stake in Visa during the fourth quarter valued at approximately $35,000. Sellwood Investment Partners LLC purchased a new stake in Visa during the fourth quarter valued at approximately $41,000. Mountain Hill Investment Partners Corp. bought a new position in Visa in the fourth quarter worth approximately $47,000. Finally, Measured Risk Portfolios Inc. bought a new position in Visa in the fourth quarter worth approximately $47,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.4%

NYSE V opened at $346.54 on Friday. The stock has a 50 day moving average price of $352.91 and a 200-day moving average price of $339.57. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $639.42 billion, a P/E ratio of 34.83, a P/E/G ratio of 2.32 and a beta of 0.94.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,098 shares of company stock worth $36,738,526. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Barclays reissued an “overweight” rating on shares of Visa in a report on Friday, June 13th. Truist Financial started coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective on the stock. Jefferies Financial Group boosted their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Finally, Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $372.80.

Visa 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.