Visa Inc. $V is Rockland Trust Co.’s 8th Largest Position

Rockland Trust Co. trimmed its holdings in shares of Visa Inc. (NYSE:V) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,735 shares of the credit-card processor’s stock after selling 2,760 shares during the period. Visa comprises approximately 2.2% of Rockland Trust Co.’s holdings, making the stock its 8th biggest holding. Rockland Trust Co.’s holdings in Visa were worth $46,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Keystone Global Partners LLC purchased a new stake in Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new stake in Visa in the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the 2nd quarter worth approximately $28,000. 1 North Wealth Services LLC purchased a new stake in Visa in the 1st quarter worth approximately $38,000. Finally, Anderson Financial Strategies LLC purchased a new stake in Visa in the 1st quarter worth approximately $53,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 2.2%

Shares of NYSE:V opened at $338.45 on Friday. The company has a 50 day moving average of $345.81 and a 200-day moving average of $346.47. The firm has a market cap of $620.32 billion, a P/E ratio of 33.05, a P/E/G ratio of 2.30 and a beta of 0.92. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the business earned $2.42 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

Wall Street Analysts Forecast Growth

Several research firms have commented on V. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. Barclays reiterated an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, The Goldman Sachs Group began coverage on shares of Visa in a report on Monday, June 2nd. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $385.96.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate 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.