1ST Source Bank Sells 91 Shares of Visa Inc. (NYSE:V)

1ST Source Bank reduced its position in shares of Visa Inc. (NYSE:V) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,982 shares of the credit-card processor’s stock after selling 91 shares during the period. 1ST Source Bank’s holdings in Visa were worth $4,103,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in V. Swedbank AB lifted its position in shares of Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC increased its holdings in Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after buying an additional 610 shares during the last quarter. Pettinga Financial Advisors LLC purchased a new stake in Visa during the third quarter worth about $228,000. Principal Financial Group Inc. increased its holdings in Visa by 7.7% during the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after buying an additional 411,210 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Visa during the third quarter worth about $660,000. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on V. StockNews.com downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Morgan Stanley raised their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Bank of America raised their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Visa Trading Up 1.0 %

Shares of Visa stock opened at $331.72 on Monday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The firm has a market cap of $616.26 billion, a PE ratio of 33.44, a PEG ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50 day simple moving average of $337.96 and a two-hundred day simple moving average of $311.19.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.71%. Visa’s payout ratio is presently 23.79%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 103,855 shares of company stock worth $35,165,827 over the last three months. 0.13% of the stock is owned by insiders.

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.