Rockland Trust Co. increased its holdings in Visa Inc. (NYSE:V – Get Rating) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,597 shares of the credit-card processor’s stock after buying an additional 1,632 shares during the quarter. Visa accounts for about 1.6% of Rockland Trust Co.’s investment portfolio, making the stock its 14th largest position. Rockland Trust Co.’s holdings in Visa were worth $24,640,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates purchased a new stake in Visa in the fourth quarter worth about $26,000. JDM Financial Group LLC bought a new position in shares of Visa during the 4th quarter valued at approximately $29,000. McClarren Financial Advisors Inc. purchased a new stake in Visa in the 3rd quarter worth approximately $26,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Visa in the fourth quarter worth $31,000. Finally, Cowa LLC purchased a new stake in shares of Visa in the third quarter worth $29,000. 81.87% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Oppenheimer increased their price objective on shares of Visa from $210.00 to $237.00 and gave the company an “outperform” rating in a report on Wednesday, January 25th. Wells Fargo & Company increased their price objective on shares of Visa from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 27th. Raymond James increased their target price on Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Thursday, March 23rd. Finally, JPMorgan Chase & Co. increased their target price on Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $259.11.
Visa Stock Performance
V stock opened at $225.46 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $223.58 and its two-hundred day simple moving average is $209.88. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $234.30. The firm has a market cap of $424.09 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 1.77 and a beta of 0.97.
Visa (NYSE:V – Get Rating) last released its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.17. Visa had a return on equity of 49.95% and a net margin of 50.28%. The business had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter last year, the firm posted $1.81 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. Analysts predict that Visa Inc. will post 8.43 earnings per share for the current year.
Visa Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were paid a $0.45 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $1.80 dividend on an annualized basis and a yield of 0.80%. Visa’s dividend payout ratio (DPR) is presently 25.17%.
Insiders Place Their Bets
In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $223.99, for a total value of $12,991,420.00. Following the sale, the chairman now owns 162,354 shares in the company, valued at $36,365,672.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $223.99, for a total value of $12,991,420.00. Following the transaction, the chairman now owns 162,354 shares in the company, valued at approximately $36,365,672.46. The disclosure for this sale can be found here. Insiders have sold a total of 191,312 shares of company stock worth $33,751,165 over the last quarter. Company insiders own 0.22% of the company’s stock.
About Visa
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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