Visa Inc. $V Stock: Inspire Trust Co. N.A. Reduces Stake

Inspire Trust Co. N.A. decreased its position in shares of Visa Inc. (NYSE:V) by 5.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 35,000 shares of the credit-card processor’s stock after selling 2,000 shares during the period. Visa comprises 1.5% of Inspire Trust Co. N.A.’s investment portfolio, making the stock its 16th largest position. Inspire Trust Co. N.A.’s holdings in Visa were worth $12,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG lifted its holdings in shares of Visa by 0.9% during the third quarter. Bank Pictet & Cie Europe AG now owns 606,500 shares of the credit-card processor’s stock valued at $217,934,000 after purchasing an additional 5,568 shares in the last quarter. CFC Planning Co LLC increased its holdings in Visa by 13.7% in the 3rd quarter. CFC Planning Co LLC now owns 13,305 shares of the credit-card processor’s stock worth $4,781,000 after buying an additional 1,607 shares in the last quarter. Vega Investment Solutions bought a new stake in Visa in the 2nd quarter worth about $829,000. Brooklands Fund Management Ltd bought a new stake in Visa in the 3rd quarter worth about $5,291,000. Finally, XXEC Inc. raised its stake in Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after buying an additional 186,138,883 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on V. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $430.00 price target on shares of Visa in a research note on Wednesday, July 29th. Mizuho set a $440.00 target price on Visa in a research note on Thursday, October 29th. BNP Paribas Exane upped their price target on Visa from $420.00 to $425.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. President Capital boosted their target price on shares of Visa from $411.00 to $474.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, Evercore set a $405.00 target price on shares of Visa in a research report on Wednesday, October 28th. Two analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $442.29.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 5,875 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $6,315,722.28. The trade was a 27.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 1,867 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $423.00, for a total value of $789,741.00. Following the completion of the sale, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $7,784,892. This represents a 9.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 29,262 shares of company stock valued at $11,195,791 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Visa News Roundup

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
• Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
• Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
• Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
• Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance

Visa Price Performance

NYSE:V opened at $422.95 on Wednesday. The business’s 50-day moving average is $387.55 and its 200 day moving average is $345.66. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $442.23. The company has a market capitalization of $754.72 billion, a P/E ratio of 34.30, a P/E/G ratio of 1.80 and a beta of 0.80. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. Visa had a return on equity of 70.50% and a net margin of 51.20%. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter in the previous year, the company posted $2.98 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. This is a boost from Visa’s previous quarterly dividend of $0.67. The ex-dividend date is Tuesday, November 10th. Visa’s dividend payout ratio (DPR) is currently 25.30%.

Visa Company Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.