Visa Inc. (NYSE:V) Shares Sold by Norway Savings Bank

Norway Savings Bank reduced its stake in Visa Inc. (NYSE:V) by 6.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,415 shares of the credit-card processor’s stock after selling 217 shares during the period. Norway Savings Bank’s holdings in Visa were worth $953,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Westend Capital Management LLC purchased a new position in Visa during the 1st quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new position in shares of Visa in the fourth quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter worth approximately $33,000. Finally, Valued Wealth Advisors LLC purchased a new position in Visa in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Piper Sandler began coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective for the company. Robert W. Baird lifted their price target 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 increased their price objective 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. Finally, Macquarie raised their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $303.56.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’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 sale, 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 can be accessed through the SEC website. In related news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is available 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 value of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. In the last three months, insiders sold 34,402 shares of company stock worth $9,559,382. Company insiders own 0.19% of the company’s stock.

Visa Stock Performance

NYSE V opened at $262.47 on Friday. The stock has a market capitalization of $480.04 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 1.80 and a beta of 0.97. The business’s 50 day moving average is $273.88 and its two-hundred day moving average is $273.50. Visa Inc. has a 12-month low of $227.68 and a 12-month high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

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

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.79%. Visa’s payout ratio is currently 23.24%.

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.