Whittier Trust Co. Purchases 4,652 Shares of Visa Inc. $V

by · The Markets Daily

Whittier Trust Co. increased its holdings in Visa Inc. (NYSE:VFree Report) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 418,365 shares of the credit-card processor’s stock after purchasing an additional 4,652 shares during the quarter. Visa makes up approximately 1.7% of Whittier Trust Co.’s holdings, making the stock its 12th largest holding. Whittier Trust Co.’s holdings in Visa were worth $146,361,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its position in Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after acquiring an additional 477 shares during the period. American National Bank & Trust grew its holdings in Visa by 0.7% in the second quarter. American National Bank & Trust now owns 53,683 shares of the credit-card processor’s stock worth $19,060,000 after purchasing an additional 373 shares during the period. Finally, CX Institutional boosted its position in shares of Visa by 3.3% in the 2nd quarter. CX Institutional now owns 61,760 shares of the credit-card processor’s stock worth $21,928,000 after purchasing an additional 1,972 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.1%

V opened at $326.01 on Monday. The stock has a market cap of $593.90 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 1.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s fifty day moving average is $338.50 and its 200 day moving average is $342.31. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lloyd Carney sold 900 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 24,042 shares of company stock worth $8,247,289. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group reiterated a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Macquarie dropped their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Evercore ISI set a $380.00 price target on shares of Visa in a research note on Friday, December 12th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $401.52.

Get Our Latest Analysis on V

About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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