Visa Inc. (NYSE:V) Shares Bought by Rockland Trust Co.

Rockland Trust Co. increased its stake in Visa Inc. (NYSE:V) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,938 shares of the credit-card processor’s stock after acquiring an additional 1,381 shares during the period. Visa makes up 2.2% of Rockland Trust Co.’s investment portfolio, making the stock its 10th largest position. Rockland Trust Co.’s holdings in Visa were worth $42,962,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp increased its holdings in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC lifted its position in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after acquiring an additional 2,772,549 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE V opened at $316.45 on Thursday. The stock has a fifty day moving average of $312.76 and a 200-day moving average of $287.65. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The stock has a market cap of $589.51 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

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

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Royal Bank of Canada upped their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays upped their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Piper Sandler raised their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $331.92.

Insider Activity at Visa

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

Visa 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.