Indiana Trust & Investment Management CO Sells 551 Shares of Visa Inc. (NYSE:V)

Indiana Trust & Investment Management CO cut its holdings in shares of Visa Inc. (NYSE:V) by 6.4% during the 1st quarter, Holdings Channel reports. The firm owned 8,077 shares of the credit-card processor’s stock after selling 551 shares during the period. Visa makes up 0.9% of Indiana Trust & Investment Management CO’s holdings, making the stock its 26th largest holding. Indiana Trust & Investment Management CO’s holdings in Visa were worth $1,710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Essex Financial Services Inc. boosted its position in shares of Visa by 9.3% during the 4th quarter. Essex Financial Services Inc. now owns 22,867 shares of the credit-card processor’s stock worth $5,002,000 after acquiring an additional 1,944 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Visa by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 10,442 shares of the credit-card processor’s stock worth $2,284,000 after acquiring an additional 410 shares in the last quarter. Institute for Wealth Management LLC. boosted its position in shares of Visa by 4.9% during the 4th quarter. Institute for Wealth Management LLC. now owns 13,588 shares of the credit-card processor’s stock worth $2,972,000 after acquiring an additional 629 shares in the last quarter. Merrion Investment Management Co LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $551,000. Finally, Altium Wealth Management LLC boosted its position in shares of Visa by 4.0% during the 4th quarter. Altium Wealth Management LLC now owns 20,216 shares of the credit-card processor’s stock worth $4,422,000 after acquiring an additional 776 shares in the last quarter. 80.50% of the stock is currently owned by institutional investors.

In other Visa news, insider Rajat Taneja sold 31,750 shares of Visa stock in a transaction on Monday, March 8th. The shares were sold at an average price of $223.00, for a total value of $7,080,250.00. Following the completion of the sale, the insider now directly owns 282,606 shares of the company’s stock, valued at $63,021,138. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Ryan Mcinerney sold 11,193 shares of Visa stock in a transaction on Monday, February 8th. The shares were sold at an average price of $210.00, for a total transaction of $2,350,530.00. Following the completion of the sale, the president now directly owns 11,193 shares of the company’s stock, valued at $2,350,530. The disclosure for this sale can be found here. Insiders have sold 93,093 shares of company stock valued at $20,418,578 in the last three months. 0.19% of the stock is owned by insiders.

NYSE V traded up $3.28 during mid-day trading on Thursday, reaching $222.55. 150,857 shares of the stock were exchanged, compared to its average volume of 10,067,009. Visa Inc. has a one year low of $159.15 and a one year high of $228.23. The stock has a 50 day simple moving average of $214.52 and a 200-day simple moving average of $207.22. The stock has a market cap of $434.49 billion, a P/E ratio of 44.93, a P/E/G ratio of 3.80 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.91 and a quick ratio of 1.91.

Visa (NYSE:V) last announced its earnings results on Thursday, January 28th. The credit-card processor reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Visa had a net margin of 49.74% and a return on equity of 37.22%. The business had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the firm earned $1.46 earnings per share. Visa’s quarterly revenue was down 6.1% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc. will post 5.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, February 11th. Visa’s dividend payout ratio is presently 25.40%.

V has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on shares of Visa in a research report on Tuesday, January 26th. They set an “outperform” rating and a $232.00 price target on the stock. Morgan Stanley raised their target price on shares of Visa from $233.00 to $253.00 and gave the company an “overweight” rating in a research report on Monday, March 22nd. KeyCorp raised their target price on shares of Visa from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, January 13th. Barclays restated a “buy” rating and issued a $230.00 target price on shares of Visa in a research report on Tuesday, December 22nd. Finally, Jefferies Financial Group upgraded shares of Visa from a “hold” rating to a “buy” rating and raised their target price for the company from $195.00 to $250.00 in a research report on Wednesday, January 13th. Five equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $226.42.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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