US Bancorp DE Sells 8,816 Shares of Visa Inc. $V

US Bancorp DE cut its holdings in Visa Inc. (NYSE:V) by 0.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,002,899 shares of the credit-card processor’s stock after selling 8,816 shares during the period. US Bancorp DE’s holdings in Visa were worth $356,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Vanguard Group Inc. lifted its holdings in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the period. Northern Trust Corp lifted its holdings in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after buying an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Visa by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after buying an additional 434,217 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after buying an additional 1,651,954 shares during the period. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $343.63 on Monday. Visa Inc. has a one year low of $275.37 and a one year high of $375.51. The stock’s fifty day moving average is $343.77 and its 200 day moving average is $346.97. The stock has a market cap of $629.79 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 EPS. Visa’s revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is presently 23.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on V. Barclays reissued an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. UBS Group reissued a “buy” rating and set a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $389.00.

Visa 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.