Visa Inc. $V Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its stake in Visa Inc. (NYSE:V) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,573 shares of the credit-card processor’s stock after selling 3,087 shares during the period. Visa accounts for approximately 2.8% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 9th largest holding. WASHINGTON TRUST Co’s holdings in Visa were worth $79,024,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC raised its stake in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Kingsman Wealth Management Inc. bought a new stake in Visa during the 1st quarter valued at $1,935,000. Capital & Planning LLC boosted its position in Visa by 25.1% during the 1st quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock worth $416,000 after acquiring an additional 238 shares during the period. Finally, Bridgewater Advisors Inc. grew its stake in shares of Visa by 1.8% in the first quarter. Bridgewater Advisors Inc. now owns 19,668 shares of the credit-card processor’s stock worth $6,717,000 after purchasing an additional 356 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $335.76 on Friday. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The stock has a market capitalization of $615.37 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.05 and a beta of 0.87. The firm’s 50 day moving average is $342.43 and its 200-day moving average is $348.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is presently 26.25%.

Wall Street Analyst Weigh In

V has been the topic of a number of recent analyst reports. Robert W. Baird set a $425.00 price objective on shares of Visa in a research note on Wednesday, October 29th. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Raymond James Financial reiterated an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Macquarie dropped their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the company’s 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 transaction, the director directly owned 2,468 shares in the company, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,897 shares of company stock valued at $8,164,561 over the last three months. Insiders own 0.13% of the company’s stock.

Visa Profile

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.