Perkins Coie Trust Co Has $10 Million Stock Position in Visa Inc. (NYSE:V)

Perkins Coie Trust Co lessened its stake in shares of Visa Inc. (NYSE:V) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,530 shares of the credit-card processor’s stock after selling 157 shares during the quarter. Visa comprises approximately 2.3% of Perkins Coie Trust Co’s holdings, making the stock its 8th largest position. Perkins Coie Trust Co’s holdings in Visa were worth $9,998,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in V. Norges Bank bought a new stake in shares of Visa during the 4th quarter worth about $5,171,271,000. GAMMA Investing LLC boosted its stake in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Vanguard Group Inc. boosted its stake in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Raymond James Financial Inc. bought a new stake in Visa during the 4th quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC boosted its stake in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This trade represents a 59.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,162 shares of company stock valued at $58,645,479. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Piper Sandler increased their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Oppenheimer restated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. The Goldman Sachs Group began coverage on shares of Visa in a report on Monday, June 2nd. They set a “neutral” rating on the stock. Finally, BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given 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 $372.80.

Visa Trading Up 1.0%

Shares of V opened at $370.44 on Friday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $371.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $345.45 and a 200-day simple moving average of $335.70. The stock has a market cap of $683.52 billion, a PE ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the prior year, the firm posted $2.51 EPS. Visa’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s payout ratio is presently 23.72%.

Visa Company 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.