Visa Inc. (NYSE:V) Shares Acquired by Adirondack Trust Co.

Adirondack Trust Co. increased its stake in shares of Visa Inc. (NYSE:V) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,007 shares of the credit-card processor’s stock after purchasing an additional 58 shares during the quarter. Adirondack Trust Co.’s holdings in Visa were worth $1,377,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Visionary Wealth Advisors lifted its holdings in Visa by 3.9% during the 4th quarter. Visionary Wealth Advisors now owns 4,685 shares of the credit-card processor’s stock worth $1,220,000 after buying an additional 177 shares during the last quarter. Caxton Associates LP acquired a new stake in shares of Visa during the 4th quarter worth about $2,601,000. First Financial Bankshares Inc purchased a new stake in Visa during the fourth quarter worth approximately $1,222,000. Garner Asset Management Corp acquired a new position in Visa in the fourth quarter valued at approximately $103,000. Finally, Point72 Europe London LLP purchased a new position in Visa in the fourth quarter valued at approximately $672,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on V shares. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. BMO Capital Markets raised their price target on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Macquarie restated an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $312.04.

Visa Trading Up 0.7 %

Shares of Visa stock opened at $276.96 on Thursday. 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 current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day moving average price of $273.48 and a 200 day moving average price of $272.68. The company has a market capitalization of $506.54 billion, a P/E ratio of 30.95, a P/E/G ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $8.92 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

About Visa

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.