Trust Co. of Oklahoma Cuts Holdings in Visa Inc. (NYSE:V)

Trust Co. of Oklahoma lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,781 shares of the credit-card processor’s stock after selling 457 shares during the quarter. Visa makes up 2.9% of Trust Co. of Oklahoma’s portfolio, making the stock its 7th biggest position. Trust Co. of Oklahoma’s holdings in Visa were worth $9,096,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Scientech Research LLC grew its stake in Visa by 35.5% in the second quarter. Scientech Research LLC now owns 4,907 shares of the credit-card processor’s stock worth $1,288,000 after purchasing an additional 1,285 shares during the period. Susquehanna International Group Ltd. purchased a new stake in shares of Visa in the 2nd quarter worth about $241,000. Texas Capital Bank Wealth Management Services Inc grew its position in shares of Visa by 28.4% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,814 shares of the credit-card processor’s stock worth $739,000 after buying an additional 623 shares during the period. Kathmere Capital Management LLC increased its stake in shares of Visa by 7.5% in the 2nd quarter. Kathmere Capital Management LLC now owns 10,337 shares of the credit-card processor’s stock worth $2,713,000 after acquiring an additional 719 shares in the last quarter. Finally, Brick & Kyle Associates lifted its position in Visa by 5.2% during the 2nd quarter. Brick & Kyle Associates now owns 19,030 shares of the credit-card processor’s stock valued at $4,995,000 after acquiring an additional 935 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $330.20 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $331.09. The firm has a market capitalization of $615.11 billion, a price-to-earnings ratio of 33.94, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $314.95 and a 200 day moving average of $290.42.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 EPS. On average, research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on V shares. Macquarie raised their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price objective on Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Barclays increased their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

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.