Rockland Trust Co. Raises Stake in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 3rd, 2023

Rockland Trust Co. increased its stake in Visa Inc. (NYSE:V – Get Rating) by 1.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 118,597 shares of the credit-card processor’s stock after buying an additional 1,632 shares during the quarter. Visa accounts for approximately 1.6% of Rockland Trust Co.’s portfolio, making the stock its 14th largest holding. Rockland Trust Co.’s holdings in Visa were worth $24,640,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. McClarren Financial Advisors Inc. purchased a new stake in Visa during the third quarter valued at about $26,000. Global Wealth Strategies & Associates purchased a new stake in shares of Visa in the fourth quarter worth about $26,000. Cowa LLC purchased a new stake in shares of Visa in the third quarter worth about $29,000. JDM Financial Group LLC purchased a new stake in shares of Visa in the fourth quarter worth about $29,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Visa in the fourth quarter worth about $31,000. 81.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on V shares. Morgan Stanley increased their price target on shares of Visa from $284.00 to $288.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Mizuho increased their price target on shares of Visa from $220.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, January 30th. Robert W. Baird increased their price target on shares of Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, January 19th. Wolfe Research increased their price target on shares of Visa from $240.00 to $255.00 in a report on Thursday, January 5th. Finally, Raymond James increased their price target on shares of Visa from $261.00 to $281.00 and gave the stock an “outperform” rating in a report on Friday, January 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.

Insider Buying and Selling

In related news, President Ryan Mcinerney sold 58,197 shares of Visa stock in a transaction on Monday, January 9th. The shares were sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, President Ryan Mcinerney sold 58,197 shares of Visa stock in a transaction on Monday, January 9th. The shares were sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rajat Taneja sold 61,721 shares of Visa stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $53,367,191.04. The disclosure for this sale can be found here. Insiders have sold a total of 191,312 shares of company stock valued at $33,751,165 over the last three months. 0.22% of the stock is owned by company insiders.

Visa Trading Up 1.4 %

V stock opened at $225.46 on Monday. The company has a market capitalization of $424.09 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97. Visa Inc. has a one year low of $174.60 and a one year high of $234.30. The company’s 50 day moving average price is $223.58 and its two-hundred day moving average price is $209.88. 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 (NYSE:V – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, topping the consensus estimate of $2.01 by $0.17. Visa had a net margin of 50.28% and a return on equity of 49.95%. The firm had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period last year, the firm posted $1.81 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 8.43 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.80%. This is an increase from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 9th. Visa’s payout ratio is presently 25.17%.

About Visa

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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).

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Institutional Ownership by Quarter for Visa (NYSE:V)

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