First Interstate Bank reduced its holdings in Visa Inc. (NYSE:V – Get Rating) by 6.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 911 shares of the credit-card processor’s stock after selling 60 shares during the quarter. First Interstate Bank’s holdings in Visa were worth $202,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Advisors Wealth Management LLC increased its stake in shares of Visa by 0.4% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 10,563 shares of the credit-card processor’s stock worth $2,289,000 after purchasing an additional 45 shares in the last quarter. Corbett Road Capital Management LLC boosted its position in shares of Visa by 3.1% in the fourth quarter. Corbett Road Capital Management LLC now owns 1,486 shares of the credit-card processor’s stock valued at $322,000 after acquiring an additional 45 shares during the period. Financial Consulate Inc. boosted its position in shares of Visa by 1.0% in the fourth quarter. Financial Consulate Inc. now owns 4,851 shares of the credit-card processor’s stock valued at $1,051,000 after acquiring an additional 46 shares during the period. Tranquilli Financial Advisor LLC boosted its position in shares of Visa by 3.1% in the fourth quarter. Tranquilli Financial Advisor LLC now owns 1,537 shares of the credit-card processor’s stock valued at $333,000 after acquiring an additional 46 shares during the period. Finally, Cross Staff Investments Inc boosted its position in shares of Visa by 0.7% in the first quarter. Cross Staff Investments Inc now owns 6,801 shares of the credit-card processor’s stock valued at $1,508,000 after acquiring an additional 47 shares during the period. 80.77% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $195.37, for a total value of $1,758,330.00. Following the sale, the chief executive officer now owns 159,887 shares in the company, valued at $31,237,123.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 27,000 shares of company stock worth $5,560,740 over the last three months. 0.21% of the stock is owned by insiders.
Visa Stock Up 2.4 %
Visa Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be given a $0.375 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.50 dividend on an annualized basis and a yield of 0.70%. Visa’s dividend payout ratio is presently 22.12%.
Wall Street Analyst Weigh In
V has been the subject of several research analyst reports. Piper Sandler dropped their target price on shares of Visa from $239.00 to $204.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. UBS Group boosted their price objective on shares of Visa from $292.00 to $296.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Macquarie reduced their price objective on shares of Visa from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Mizuho dropped their target price on shares of Visa from $235.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, July 1st. Finally, Credit Suisse Group boosted their target price on shares of Visa from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, April 27th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $258.64.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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