Plimoth Trust Co. LLC Raises Stock Holdings in Visa Inc. (NYSE:V)

Plimoth Trust Co. LLC raised its stake in shares of Visa Inc. (NYSE:V) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,605 shares of the credit-card processor’s stock after acquiring an additional 1,314 shares during the period. Visa makes up 1.4% of Plimoth Trust Co. LLC’s holdings, making the stock its 19th biggest holding. Plimoth Trust Co. LLC’s holdings in Visa were worth $5,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in V. SeaCrest Wealth Management LLC lifted its stake in Visa by 74.1% during the 1st quarter. SeaCrest Wealth Management LLC now owns 32,683 shares of the credit-card processor’s stock worth $9,121,000 after acquiring an additional 13,915 shares in the last quarter. Naviter Wealth LLC lifted its position in shares of Visa by 14.9% during the first quarter. Naviter Wealth LLC now owns 10,843 shares of the credit-card processor’s stock worth $3,026,000 after purchasing an additional 1,408 shares in the last quarter. Nvest Financial LLC grew its holdings in shares of Visa by 1.9% in the first quarter. Nvest Financial LLC now owns 6,782 shares of the credit-card processor’s stock valued at $1,893,000 after purchasing an additional 128 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. increased its stake in Visa by 2.0% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 432,884 shares of the credit-card processor’s stock worth $120,809,000 after buying an additional 8,569 shares during the period. Finally, Buffington Mohr McNeal increased its stake in Visa by 1.7% during the 1st quarter. Buffington Mohr McNeal now owns 39,667 shares of the credit-card processor’s stock worth $11,070,000 after buying an additional 664 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of V opened at $268.73 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a fifty-two week low of $227.68 and a fifty-two week high of $290.96. The firm has a 50-day simple moving average of $273.58 and a 200-day simple moving average of $273.69. The company has a market capitalization of $491.49 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period last year, the firm earned $2.09 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on V shares. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. TD Cowen started coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Robert W. Baird raised their target price on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Mizuho boosted their price target on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Macquarie raised their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $303.56.

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.