First International Bank & Trust Trims Holdings in Visa Inc. (NYSE:V)

First International Bank & Trust lowered its position in Visa Inc. (NYSE:V) by 8.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,055 shares of the credit-card processor’s stock after selling 97 shares during the period. First International Bank & Trust’s holdings in Visa were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Peterson Financial Group Inc. acquired a new position in Visa in the third quarter valued at approximately $26,000. Reston Wealth Management LLC acquired a new position in shares of Visa in the 3rd quarter valued at $31,000. Modus Advisors LLC purchased a new stake in Visa during the fourth quarter worth $32,000. Fairway Wealth LLC acquired a new stake in Visa during the second quarter valued at $39,000. Finally, West Financial Advisors LLC increased its holdings in Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 value of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V opened at $312.74 on Friday. The company has a 50-day moving average of $311.80 and a two-hundred day moving average of $286.63. The stock has a market cap of $582.60 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.33 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Piper Sandler increased their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. TD Cowen lifted their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.85.

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.