Argent Trust Co Has $26.70 Million Holdings in Visa Inc. (NYSE:V)

by · The Markets Daily

Argent Trust Co raised its position in shares of Visa Inc. (NYSE:V – Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,732 shares of the credit-card processor’s stock after buying an additional 1,232 shares during the period. Visa comprises 1.2% of Argent Trust Co’s portfolio, making the stock its 15th biggest position. Argent Trust Co’s holdings in Visa were worth $26,702,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after acquiring an additional 788,908 shares during the last quarter. Capital International Investors lifted its position in shares of Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors grew its stake in shares of Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Visa by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock valued at $2,317,162,000 after purchasing an additional 166,767 shares in the last quarter. Finally, Ninety One UK Ltd raised its position in Visa by 0.7% in the 2nd quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor’s stock worth $2,065,103,000 after purchasing an additional 55,437 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Compass Point started coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. Macquarie reiterated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Royal Bank of Canada reduced their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Morgan Stanley lowered their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $310.22.

View Our Latest Stock Report on Visa

Visa Trading Up 0.4 %

V opened at $291.61 on Wednesday. The stock has a market capitalization of $533.34 billion, a P/E ratio of 32.58, a P/E/G ratio of 2.01 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The firm’s fifty day simple moving average is $269.30 and its 200 day simple moving average is $273.27.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.71%. Visa’s dividend payout ratio is currently 23.24%.

About Visa

(Free Report)

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.

Further Reading

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