Visa Inc. (NYSE:V) Shares Purchased by Rockland Trust Co.

Rockland Trust Co. raised its stake in shares of Visa Inc. (NYSE:V) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 134,557 shares of the credit-card processor’s stock after purchasing an additional 3,587 shares during the period. Visa accounts for 1.8% of Rockland Trust Co.’s portfolio, making the stock its 15th largest position. Rockland Trust Co.’s holdings in Visa were worth $36,996,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Westend Capital Management LLC acquired a new stake in Visa in the first quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter worth $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on V. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group reduced their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer began coverage on shares of Visa in a research report on Tuesday. They issued an “outperform” rating and a $318.00 target price for the company. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Friday, September 27th. Six 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $312.04.

Visa Trading Down 0.1 %

Shares of NYSE:V opened at $276.86 on Friday. The stock has a market capitalization of $506.36 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a 50 day moving average price of $272.63 and a 200 day moving average price of $273.12.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the business posted $2.16 EPS. The company’s revenue was up 9.6% on a year-over-year basis. On average, research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% 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.