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

Whittier Trust Co. lifted its holdings in shares of Visa Inc. (NYSE:V) by 5.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 413,713 shares of the credit-card processor’s stock after purchasing an additional 21,484 shares during the quarter. Visa comprises about 1.8% of Whittier Trust Co.’s holdings, making the stock its 12th biggest holding. Whittier Trust Co.’s holdings in Visa were worth $146,884,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter worth about $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter worth about $27,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa during the second quarter worth about $29,000. Finally, Cranbrook Wealth Management LLC raised its holdings in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.1%

V stock opened at $345.82 on Friday. 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 Inc. has a twelve month low of $280.78 and a twelve month high of $375.51. The company’s 50 day moving average is $344.73 and its two-hundred day moving average is $347.33. The stock has a market cap of $633.81 billion, a P/E ratio of 33.77, a PEG ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter last year, the company earned $2.42 earnings per share. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays reaffirmed an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Visa in a report on Wednesday. Three analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $392.75.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.