Colonial Trust Advisors Sells 943 Shares of Visa Inc. $V

Colonial Trust Advisors lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 81,461 shares of the credit-card processor’s stock after selling 943 shares during the period. Visa comprises approximately 2.4% of Colonial Trust Advisors’ investment portfolio, making the stock its 8th biggest position. Colonial Trust Advisors’ holdings in Visa were worth $28,923,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in V. Keystone Global Partners LLC bought a new stake in Visa in the first quarter worth $26,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the second quarter valued at about $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the second quarter worth about $29,000. Cranbrook Wealth Management LLC lifted its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new stake in shares of Visa during the 2nd quarter worth about $36,000. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Raymond James Financial restated an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Morgan Stanley set a $398.00 price target on shares of Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Visa Stock Performance

NYSE:V opened at $334.10 on Friday. The firm’s 50-day moving average is $339.82 and its 200-day moving average is $347.42. The company has a market cap of $608.65 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 1.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

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

Visa Increases Dividend

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

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This trade represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,042 shares of company stock worth $8,175,152 over the last three months. Company insiders own 0.13% of the company’s stock.

Visa Company 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.