Private Trust Co. NA Purchases 140 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Mar 26th, 2023

Private Trust Co. NA boosted its position in Visa Inc. (NYSE:V – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,208 shares of the credit-card processor’s stock after acquiring an additional 140 shares during the period. Private Trust Co. NA’s holdings in Visa were worth $1,705,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. bought a new stake in Visa in the 3rd quarter worth $26,000. Global Wealth Strategies & Associates purchased a new stake in shares of Visa in the 4th quarter worth about $26,000. Cowa LLC purchased a new stake in shares of Visa in the 3rd quarter worth about $29,000. JDM Financial Group LLC purchased a new stake in shares of Visa in the 4th quarter worth about $29,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Visa in the 4th quarter worth about $31,000. Institutional investors own 81.87% of the company’s stock.

Visa Stock Down 0.7 %

NYSE:V opened at $221.04 on Friday. The firm has a market cap of $415.78 billion, a P/E ratio of 30.91, a P/E/G ratio of 1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $234.30. The firm has a 50-day simple moving average of $223.52 and a two-hundred day simple moving average of $209.10.

Visa (NYSE:V – Get Rating) last released its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.17. The business had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.70 billion. Visa had a net margin of 50.28% and a return on equity of 49.95%. Visa’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $1.81 EPS. Analysts predict that Visa Inc. will post 8.43 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were paid a $0.45 dividend. The ex-dividend date was Thursday, February 9th. This is a positive change from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.81%. Visa’s payout ratio is currently 25.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on V shares. Wells Fargo & Company raised their target price on shares of Visa from $250.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. Jefferies Financial Group raised their target price on shares of Visa from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 18th. Wolfe Research raised their target price on shares of Visa from $240.00 to $255.00 in a research report on Thursday, January 5th. Raymond James lifted their price target on shares of Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Finally, Oppenheimer lifted their price target on shares of Visa from $210.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $259.11.

Insider Transactions at Visa

In other news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of Visa stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total value of $12,991,420.00. Following the completion of the sale, the chairman now directly owns 162,354 shares in the company, valued at $36,365,672.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $219.00, for a total transaction of $2,933,286.00. Following the completion of the sale, the general counsel now directly owns 4,583 shares in the company, valued at $1,003,677. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the sale, the chairman now owns 162,354 shares of the company’s stock, valued at $36,365,672.46. The disclosure for this sale can be found here. Insiders sold 191,312 shares of company stock worth $33,751,165 over the last three months. 0.22% of the stock is currently owned by company insiders.

Visa Company Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).