Visa Inc. (NYSE:V) is Sanibel Captiva Trust Company Inc.’s 6th Largest Position

Sanibel Captiva Trust Company Inc. lessened its stake in shares of Visa Inc. (NYSE:V) by 3.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 290,614 shares of the credit-card processor’s stock after selling 9,246 shares during the quarter. Visa makes up about 2.6% of Sanibel Captiva Trust Company Inc.’s investment portfolio, making the stock its 6th biggest position. Sanibel Captiva Trust Company Inc.’s holdings in Visa were worth $76,277,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Westend Capital Management LLC acquired a new position in Visa in the 1st quarter valued at $25,000. Livelsberger Financial Advisory acquired a new stake in Visa in the 4th quarter valued at about $25,000. Frank Rimerman Advisors LLC purchased a new position in Visa in the 4th quarter valued at about $33,000. TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its holdings in Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on V. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Mizuho increased their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. UBS Group increased their price objective on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. Finally, Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $308.50.

Visa Stock Performance

Shares of NYSE V traded up $1.57 during midday trading on Tuesday, reaching $268.04. 6,734,113 shares of the company traded hands, compared to its average volume of 7,220,576. The stock has a 50-day moving average price of $266.24 and a 200 day moving average price of $273.50. The company has a market cap of $488.45 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 1.89 and a beta of 0.95. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend 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.