Visa Inc. (NYSE:V) Shares Sold by Washington Trust Bank

Washington Trust Bank decreased its holdings in shares of Visa Inc. (NYSE:V) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,221 shares of the credit-card processor’s stock after selling 66 shares during the quarter. Washington Trust Bank’s holdings in Visa were worth $845,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at about $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the 4th quarter valued at approximately $25,000. POM Investment Strategies LLC grew its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in Visa during the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC raised its position in Visa by 211.9% in the second 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 during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Macquarie reissued an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. Piper Sandler cut their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Bank of America restated a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Morgan Stanley dropped their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group decreased their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given 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 target price of $308.50.

Visa Stock Performance

Shares of V traded up $2.05 during mid-day trading on Friday, reaching $276.37. 6,154,522 shares of the company’s stock were exchanged, compared to its average volume of 7,134,793. The business’s fifty day simple moving average is $265.67 and its 200-day simple moving average is $273.12. The stock has a market capitalization of $505.46 billion, a PE ratio of 30.88, a price-to-earnings-growth 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 announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 earnings per share. On average, equities research analysts expect that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. 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.