Central Pacific Bank Trust Division Sells 803 Shares of Visa Inc. $V

Central Pacific Bank Trust Division cut its holdings in shares of Visa Inc. (NYSE:V) by 12.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,808 shares of the credit-card processor’s stock after selling 803 shares during the period. Central Pacific Bank Trust Division’s holdings in Visa were worth $2,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Kera Capital Partners Inc. boosted its stake in shares of Visa by 43.5% during the second quarter. Kera Capital Partners Inc. now owns 1,421 shares of the credit-card processor’s stock valued at $505,000 after purchasing an additional 431 shares in the last quarter. Private Client Services LLC boosted its stake in Visa by 20.0% in the second quarter. Private Client Services LLC now owns 2,182 shares of the credit-card processor’s stock valued at $775,000 after acquiring an additional 364 shares in the last quarter. AdviceOne Advisory Services LLC acquired a new stake in Visa in the first quarter valued at approximately $374,000. AG2R LA Mondiale Gestion D Actifs acquired a new stake in Visa in the first quarter valued at approximately $23,254,000. Finally, Swedbank AB boosted its stake in Visa by 3.8% in the first quarter. Swedbank AB now owns 2,355,219 shares of the credit-card processor’s stock valued at $825,410,000 after acquiring an additional 85,358 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 1.2%

NYSE V opened at $339.33 on Friday. The company has a fifty day simple moving average of $347.03 and a two-hundred day simple moving average of $346.94. The stock has a market cap of $621.92 billion, a P/E ratio of 33.14, a P/E/G ratio of 2.29 and a beta of 0.92. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last posted 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. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $2.42 earnings per share. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on V shares. Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and raised their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Finally, Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

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.