Visa Inc. (NYSE:V) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 274,397 shares of the credit-card processor’s stock after selling 7,371 shares during the period. Visa accounts for about 3.1% of Sanibel Captiva Trust Company Inc.’s investment portfolio, making the stock its 5th biggest holding. Sanibel Captiva Trust Company Inc.’s holdings in Visa were worth $96,165,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Visa during the 4th quarter worth approximately $5,171,271,000. GAMMA Investing LLC increased its stake in shares of Visa by 38,416.3% in 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 last quarter. Vanguard Group Inc. increased its stake in shares of Visa by 4.6% in 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 last quarter. Raymond James Financial Inc. bought a new position in shares of Visa in the 4th quarter valued at $1,955,403,000. Finally, Proficio Capital Partners LLC increased its stake in shares of Visa by 17,018.7% in 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 last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $58,645,479 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $370.89 on Wednesday. The stock’s 50 day moving average is $346.49 and its 200-day moving average is $336.52. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $371.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $684.35 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.33 and a beta of 0.94.

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

Visa Dividend Announcement

The firm 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. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio is presently 23.72%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on V. Citigroup began coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating on the stock. Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Macquarie reduced their price target on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Finally, Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $372.80.

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.