Sanibel Captiva Trust Company Inc. Lowers Stock Position in Visa Inc. (NYSE:V)

Sanibel Captiva Trust Company Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,768 shares of the credit-card processor’s stock after selling 4,849 shares during the quarter. Visa comprises approximately 2.8% of Sanibel Captiva Trust Company Inc.’s investment portfolio, making the stock its 6th biggest position. Sanibel Captiva Trust Company Inc.’s holdings in Visa were worth $89,050,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Custom Index Systems LLC acquired a new stake in shares of Visa during the 3rd quarter worth approximately $731,000. Copley Financial Group Inc. bought a new position in shares of Visa in the 3rd quarter valued at $616,000. FORA Capital LLC acquired a new position in shares of Visa during the 3rd quarter worth $7,987,000. Chicago Capital LLC lifted its position in shares of Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares during the last quarter. Finally, Nexus Investment Management ULC grew its position in Visa by 5,034.0% in the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after acquiring an additional 55,273 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.9 %

NYSE V opened at $319.97 on Monday. The business’s fifty day moving average is $313.41 and its 200-day moving average is $288.59. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $596.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $321.61.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.33 earnings per share. Equities research analysts predict that Visa Inc. will post 11.22 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. Visa’s payout ratio is presently 24.25%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft increased their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Finally, Macquarie increased their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $331.92.

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.