Community Trust & Investment Co. Purchases 1,512 Shares of Visa Inc. (NYSE:V)

Community Trust & Investment Co. increased its position in shares of Visa Inc. (NYSE:V) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,709 shares of the credit-card processor’s stock after purchasing an additional 1,512 shares during the period. Visa makes up about 2.2% of Community Trust & Investment Co.’s portfolio, making the stock its 9th biggest holding. Community Trust & Investment Co.’s holdings in Visa were worth $34,014,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Jessup Wealth Management Inc raised its position in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after buying an additional 37 shares in the last quarter. Cordatus Wealth Management LLC increased its stake in Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares during the period. KMG Fiduciary Partners LLC raised its holdings in Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after acquiring an additional 37 shares in the last quarter. Tlwm lifted its position in shares of Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after acquiring an additional 38 shares during the period. Finally, Meridian Financial Partners LLC grew its holdings in shares of Visa by 0.5% during the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after purchasing an additional 38 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on V shares. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note on Friday, September 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Piper Sandler decreased their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Stock Performance

NYSE:V opened at $283.76 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The company has a 50 day simple moving average of $278.40 and a two-hundred day simple moving average of $273.10. The company has a market capitalization of $518.98 billion, a PE ratio of 31.71, a P/E/G ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the company posted $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

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.