Trustmark National Bank Trust Department Sells 2,845 Shares of Visa Inc. (NYSE:V)

Trustmark National Bank Trust Department lessened its holdings in Visa Inc. (NYSE:V) by 54.1% in the third quarter, Holdings Channel reports. The firm owned 2,410 shares of the credit-card processor’s stock after selling 2,845 shares during the period. Trustmark National Bank Trust Department’s holdings in Visa were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of V. Peterson Financial Group Inc. bought a new position in shares of Visa during the 3rd quarter valued at about $26,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Visa in the 3rd quarter valued at approximately $31,000. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa during the second quarter valued at $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.9 %

V opened at $310.23 on Friday. Visa Inc. has a one year low of $251.61 and a one year high of $312.44. The stock has a market capitalization of $565.33 billion, a PE ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95. The business’s 50 day moving average price is $289.07 and its 200 day moving average price is $277.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is 24.25%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. TD Cowen upped their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Piper Sandler increased their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

About Visa

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.