Adirondack Trust Co. Has $1.56 Million Stock Holdings in Visa Inc. (NYSE:V)

Adirondack Trust Co. cut its stake in Visa Inc. (NYSE:V) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,946 shares of the credit-card processor’s stock after selling 61 shares during the period. Adirondack Trust Co.’s holdings in Visa were worth $1,563,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. bought a new position in Visa in the 4th quarter valued at $26,000. Reston Wealth Management LLC acquired a new stake in Visa in the third quarter worth about $31,000. Modus Advisors LLC bought a new position in shares of Visa in the 4th quarter valued at about $32,000. Finally, West Financial Advisors LLC grew its position in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after buying an additional 73 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 the SEC website. 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 transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on V. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup lifted their price objective on Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Oppenheimer upped their price objective on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Susquehanna boosted their target price on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research report on Wednesday, December 11th. Finally, Bank of America increased their price target on shares of Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $334.58.

Visa Stock Performance

NYSE V opened at $330.20 on Friday. 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 fifty day simple moving average of $314.95 and a 200 day simple moving average of $290.42. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $331.09. The company has a market cap of $615.11 billion, a P/E ratio of 33.94, a PEG ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

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.