Visa Inc. $V Position Boosted by Rockland Trust Co.

Rockland Trust Co. raised its holdings in shares of Visa Inc. (NYSE:V) by 10.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,786 shares of the credit-card processor’s stock after buying an additional 13,051 shares during the period. Visa comprises approximately 2.0% of Rockland Trust Co.’s portfolio, making the stock its 9th largest position. Rockland Trust Co.’s holdings in Visa were worth $48,744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Harbor Asset Planning Inc. purchased a new stake in shares of Visa in the 2nd quarter worth about $29,000. Sagard Holdings Management Inc. purchased a new position in shares of Visa during the 2nd quarter worth approximately $31,000. Bare Financial Services Inc raised its position in shares of Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 66 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of Visa in the 2nd quarter valued at approximately $36,000. Finally, Quaker Wealth Management LLC boosted its position in shares of Visa by 202.7% during the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 225 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Down 1.8%

Shares of Visa stock opened at $325.48 on Tuesday. The company has a 50-day simple moving average of $338.40 and a two-hundred day simple moving average of $340.57. The stock has a market capitalization of $590.80 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.90 and a beta of 0.79. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is currently 25.14%.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% 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. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on V shares. Bank of America upgraded Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective for the company in a report on Thursday, December 11th. Raymond James Financial reissued an “outperform” rating and set a $408.00 price target (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on shares of Visa in a research note on Wednesday, October 29th. Rothschild & Co Redburn set a $385.00 target price on shares of Visa in a research note on Wednesday, January 28th. Finally, Truist Financial set a $374.00 target price on shares of Visa in a report on Tuesday, January 20th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Buy” and a consensus price target of $392.29.

Visa Company 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.