First Hawaiian Bank Sells 1,417 Shares of Visa Inc. (NYSE:V)

First Hawaiian Bank lowered its stake in shares of Visa Inc. (NYSE:V) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,776 shares of the credit-card processor’s stock after selling 1,417 shares during the period. First Hawaiian Bank’s holdings in Visa were worth $7,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Visa in the third quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter valued at about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of Visa in the 4th quarter valued at approximately $32,000. Frank Rimerman Advisors LLC purchased a new stake in Visa during the 4th quarter worth approximately $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in Visa during the 4th quarter valued at approximately $37,000. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.9 %

Visa stock opened at $273.62 on Thursday. The stock’s fifty day moving average is $273.96 and its two-hundred day moving average is $272.71. 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 market cap of $500.43 billion, a PE ratio of 30.57, a P/E/G ratio of 1.87 and a beta of 0.97. Visa Inc. has a 1-year low of $224.98 and a 1-year high of $290.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter last year, the business posted $2.09 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction 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 in the company, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock worth $9,559,382 in the last 90 days. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on V. TD Cowen assumed coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price target on the stock. Robert W. Baird increased their price objective on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Wells Fargo & Company boosted their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Citigroup upped their target price on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler initiated coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target for the company. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

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.