Midwest Trust Co Boosts Stock Position in Visa Inc. $V

Midwest Trust Co lifted its position in shares of Visa Inc. (NYSE:V) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,177 shares of the credit-card processor’s stock after buying an additional 18,554 shares during the period. Visa comprises 1.0% of Midwest Trust Co’s investment portfolio, making the stock its 25th largest position. Midwest Trust Co’s holdings in Visa were worth $77,427,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of V. Clayton Financial Group LLC lifted its holdings in shares of Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. PayPay Securities Corp grew its holdings in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Cresta Advisors Ltd. purchased a new position in Visa in the 4th quarter worth $26,000. Parvin Asset Management LLC raised its position in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management bought a new stake in Visa in the fourth quarter worth $30,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.2%

NYSE:V traded up $0.85 during mid-day trading on Friday, reaching $349.05. 4,701,656 shares of the company’s stock traded hands, compared to its average volume of 8,985,494. The company has a 50 day moving average price of $330.81 and a 200-day moving average price of $325.05. The firm has a market capitalization of $626.12 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same period last year, the company earned $2.76 EPS. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 13.1 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is 23.34%.

Visa announced that its board has authorized a stock buyback plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on V shares. UBS Group upped their price target on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Robert W. Baird set a $412.00 target price on Visa and gave the company an “outperform” rating in a research note on Monday, July 6th. Truist Financial set a $371.00 target price on Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings raised Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 6th. Finally, Evercore set a $350.00 price objective on Visa in a research report on Wednesday, April 29th. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $397.91.

Insider Activity at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 75,581 shares of company stock worth $25,627,975 over the last quarter. Corporate insiders own 0.12% of the company’s stock.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.