Visa Inc. $V is Florida Trust Wealth Management Co’s 6th Largest Position

Florida Trust Wealth Management Co reduced its position in Visa Inc. (NYSE:V) by 1.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 261,424 shares of the credit-card processor’s stock after selling 3,278 shares during the period. Visa accounts for about 2.5% of Florida Trust Wealth Management Co’s portfolio, making the stock its 6th largest position. Florida Trust Wealth Management Co’s holdings in Visa were worth $89,245,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Visa during the second quarter worth $7,034,939,000. TCI Fund Management Ltd. increased its position in Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after buying an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC increased its position in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. raised its stake in Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Evercore ISI set a $380.00 price target on shares of Visa in a report on Friday, December 12th. KeyCorp reiterated an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Raymond James Financial reissued an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Finally, UBS Group restated a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa currently has an average rating of “Buy” and an average target price of $402.52.

Insider Activity at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,042 shares of company stock worth $8,247,289 in the last three months. Company insiders own 0.12% of the company’s stock.

Visa Price Performance

NYSE:V opened at $328.41 on Tuesday. The firm’s fifty day moving average is $339.29 and its two-hundred day moving average is $343.18. The firm has a market cap of $598.28 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a one year low of $299.00 and a one year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. Research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is presently 26.25%.

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.