Trust Co of Kansas Has $6.63 Million Stake in Visa Inc. (NYSE:V)

Trust Co of Kansas trimmed its stake in Visa Inc. (NYSE:V) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,915 shares of the credit-card processor’s stock after selling 344 shares during the period. Visa makes up about 3.5% of Trust Co of Kansas’ portfolio, making the stock its 9th biggest position. Trust Co of Kansas’ holdings in Visa were worth $6,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Visa in the fourth quarter worth approximately $5,171,271,000. GAMMA Investing LLC raised its holdings in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the period. Vanguard Group Inc. raised its holdings in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Visa in the fourth quarter worth approximately $1,955,403,000. Finally, Proficio Capital Partners LLC raised its holdings in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of V stock opened at $345.87 on Thursday. The stock has a market cap of $638.19 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. The business has a 50-day simple moving average of $352.56 and a 200-day simple moving average of $339.31. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.51 EPS. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Analyst Ratings Changes

V has been the topic of several recent analyst reports. Piper Sandler increased their price target on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. UBS Group raised their price objective on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Macquarie reduced their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. Finally, Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,098 shares of company stock worth $36,738,526. Corporate insiders own 0.13% of the company’s stock.

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.