Visa Inc. $V Shares Purchased by Whittier Trust Co.

Whittier Trust Co. raised its stake in shares of Visa Inc. (NYSE:V) by 1.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 418,365 shares of the credit-card processor’s stock after acquiring an additional 4,652 shares during the period. Visa comprises about 1.7% of Whittier Trust Co.’s investment portfolio, making the stock its 12th biggest position. Whittier Trust Co.’s holdings in Visa were worth $146,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Quilter Plc boosted its position in Visa by 4.8% in the 3rd quarter. Quilter Plc now owns 797,198 shares of the credit-card processor’s stock worth $272,147,000 after purchasing an additional 36,382 shares in the last quarter. Provident Trust Co. boosted its stake in shares of Visa by 0.3% during the 3rd quarter. Provident Trust Co. now owns 1,434,051 shares of the credit-card processor’s stock worth $489,556,000 after acquiring an additional 3,615 shares in the last quarter. Heritage Investment Group Inc. grew its position in shares of Visa by 14.6% during the 3rd quarter. Heritage Investment Group Inc. now owns 1,535 shares of the credit-card processor’s stock valued at $524,000 after acquiring an additional 195 shares during the period. TFR Capital LLC. increased its stake in shares of Visa by 0.7% in the 3rd quarter. TFR Capital LLC. now owns 6,501 shares of the credit-card processor’s stock valued at $2,219,000 after purchasing an additional 43 shares in the last quarter. Finally, FSB Premier Wealth Management Inc. raised its holdings in Visa by 3.5% in the 3rd quarter. FSB Premier Wealth Management Inc. now owns 8,043 shares of the credit-card processor’s stock worth $2,746,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $326.01 on Monday. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s 50 day moving average price is $338.50 and its 200-day moving average price is $342.31. The firm has a market cap of $593.90 billion, a P/E ratio of 31.93, a P/E/G ratio of 1.92 and a beta of 0.81.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period last year, the business posted $2.71 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were paid a dividend of $0.67 per share. The ex-dividend date was Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is currently 26.25%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on V shares. Morgan Stanley set a $398.00 target price on shares of Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Evercore ISI set a $380.00 price objective on Visa in a report on Friday, December 12th. Truist Financial set a $374.00 target price on Visa in a report on Tuesday, January 20th. HSBC upgraded Visa from a “hold” rating to a “buy” rating and raised their target price for the company from $335.00 to $389.00 in a research report on Sunday, December 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Visa has a consensus rating of “Buy” and a consensus price target of $401.52.

Insider Activity at Visa

In other Visa news, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred 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 sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,042 shares of company stock valued at $8,247,289 over the last 90 days. 0.12% of the stock is owned by corporate insiders.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.