US Bancorp DE Sells 47,360 Shares of Visa Inc. $V

US Bancorp DE reduced its position in Visa Inc. (NYSE:V) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 955,539 shares of the credit-card processor’s stock after selling 47,360 shares during the quarter. US Bancorp DE’s holdings in Visa were worth $326,211,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Insight Wealth Strategies LLC boosted its holdings in Visa by 1.6% in the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor’s stock valued at $640,000 after purchasing an additional 29 shares during the period. Old Port Advisors raised its position in shares of Visa by 0.9% in the third quarter. Old Port Advisors now owns 3,423 shares of the credit-card processor’s stock worth $1,169,000 after buying an additional 29 shares in the last quarter. Carr Financial Group Corp boosted its stake in Visa by 2.4% during the third quarter. Carr Financial Group Corp now owns 1,290 shares of the credit-card processor’s stock valued at $440,000 after buying an additional 30 shares during the period. Define Financial LLC grew its position in Visa by 4.0% during the third quarter. Define Financial LLC now owns 779 shares of the credit-card processor’s stock worth $266,000 after buying an additional 30 shares in the last quarter. Finally, Patron Partners LLC grew its position in Visa by 0.6% during the third quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock worth $1,587,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.12% of the stock is owned by corporate insiders.

Visa Price Performance

V stock opened at $313.02 on Thursday. The company has a market cap of $568.18 billion, a P/E ratio of 29.36, a PEG ratio of 1.76 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average of $334.19 and a 200 day moving average of $338.39. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51.

Visa (NYSE:V) last released its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The business had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the company posted $2.75 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. Visa’s dividend payout ratio (DPR) is presently 25.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on V. HSBC upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a research note on Thursday, December 11th. TD Cowen reissued a “buy” rating on shares of Visa in a research note on Friday, January 30th. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 price target on shares of Visa in a report on Friday, January 30th. Finally, Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective for the company in a report on Monday, February 2nd. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $391.43.

About Visa

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.