Central Pacific Bank Trust Division Decreases Stake in Visa Inc. (NYSE:V)

Central Pacific Bank Trust Division lessened its holdings in shares of Visa Inc. (NYSE:V) by 19.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,701 shares of the credit-card processor’s stock after selling 1,601 shares during the period. Central Pacific Bank Trust Division’s holdings in Visa were worth $2,118,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. jvl associates llc purchased a new position in shares of Visa during the 4th quarter worth $281,000. First Citizens Financial Corp increased its position in Visa by 108.5% during the fourth quarter. First Citizens Financial Corp now owns 3,575 shares of the credit-card processor’s stock worth $1,130,000 after purchasing an additional 1,860 shares during the last quarter. Modus Advisors LLC purchased a new position in Visa during the fourth quarter worth about $32,000. GAMMA Investing LLC boosted its holdings in Visa by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 38,325 shares of the credit-card processor’s stock valued at $12,112,000 after purchasing an additional 5,055 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Visa by 23.4% in the 4th quarter. Versant Capital Management Inc now owns 4,526 shares of the credit-card processor’s stock valued at $1,430,000 after buying an additional 858 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on V. TD Cowen increased their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Susquehanna increased their price objective on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research report on Wednesday, December 11th. Barclays lifted their target price on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Robert W. Baird upped their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler boosted their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $329.70.

Visa Price Performance

NYSE:V traded up $0.38 during trading hours on Friday, hitting $314.78. The company’s stock had a trading volume of 2,265,681 shares, compared to its average volume of 3,797,721. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $321.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The business’s 50-day moving average is $309.06 and its two-hundred day moving average is $285.28. The company has a market capitalization of $586.40 billion, a PE ratio of 32.35, a PEG ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the business posted $2.33 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

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.