Trust Co of the South Has $2.32 Million Stock Holdings in Visa Inc. (NYSE:V)

Trust Co of the South raised its position in Visa Inc. (NYSE:V) by 40.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,329 shares of the credit-card processor’s stock after buying an additional 2,094 shares during the quarter. Visa makes up approximately 0.5% of Trust Co of the South’s holdings, making the stock its 28th largest holding. Trust Co of the South’s holdings in Visa were worth $2,316,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Custom Index Systems LLC acquired a new stake in shares of Visa in the 3rd quarter valued at $731,000. Copley Financial Group Inc. bought a new position in Visa during the third quarter valued at about $616,000. FORA Capital LLC acquired a new stake in shares of Visa in the third quarter worth about $7,987,000. Chicago Capital LLC boosted its stake 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 acquiring an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC increased its holdings in shares of Visa by 5,034.0% during the 3rd 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. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

NYSE V traded down $1.95 on Thursday, hitting $314.09. 2,642,726 shares of the company were exchanged, compared to its average volume of 6,913,891. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61. The firm has a 50 day moving average of $308.44 and a two-hundred day moving average of $285.08. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $585.11 billion, a P/E ratio of 32.28, a P/E/G ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. Visa’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their target price on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. BMO Capital Markets upped their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price target on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Robert W. Baird raised their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Mizuho upped their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $328.41.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

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.