Sabal Trust CO Has $5.86 Million Stock Position in Visa Inc. (NYSE:V)

Sabal Trust CO lessened its holdings in Visa Inc. (NYSE:V) by 3.8% during the fourth quarter, HoldingsChannel reports. The fund owned 18,550 shares of the credit-card processor’s stock after selling 738 shares during the quarter. Sabal Trust CO’s holdings in Visa were worth $5,863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Riverstone Advisors LLC purchased a new stake in Visa in the 4th quarter valued at about $217,000. Journey Strategic Wealth LLC lifted its stake in Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares in the last quarter. Copley Financial Group Inc. purchased a new stake in Visa in the 3rd quarter worth approximately $616,000. Calamos Wealth Management LLC lifted its stake in Visa by 0.6% in the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after purchasing an additional 435 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its position in shares of Visa by 5.9% during the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock valued at $23,847,000 after buying an additional 4,198 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 1.4 %

NYSE:V opened at $355.56 on Friday. Visa Inc. has a one year low of $252.70 and a one year high of $360.31. 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’s 50-day simple moving average is $332.12 and its 200 day simple moving average is $304.62. The firm has a market capitalization of $660.55 billion, a P/E ratio of 35.84, a PEG ratio of 2.33 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping 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%. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 disclosure for this sale can be found here. Insiders have sold 55,885 shares of company stock valued at $19,161,447 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on V. Barclays raised their price objective on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Bank of America lifted their target price on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. 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 report on Friday, January 31st. Finally, The Goldman Sachs Group raised their price target on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

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.