Hendershot Investments Inc. Acquires 817 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 12th, 2023

Hendershot Investments Inc. lifted its holdings in Visa Inc. (NYSE:V – Free Report) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 59,112 shares of the credit-card processor’s stock after buying an additional 817 shares during the period. Visa comprises 2.2% of Hendershot Investments Inc.’s holdings, making the stock its 16th largest holding. Hendershot Investments Inc.’s holdings in Visa were worth $13,327,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. grew its holdings in Visa by 1.2% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 77,046 shares of the credit-card processor’s stock valued at $17,371,000 after purchasing an additional 951 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Visa by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 799,904 shares of the credit-card processor’s stock valued at $166,188,000 after purchasing an additional 9,534 shares during the last quarter. Occidental Asset Management LLC grew its holdings in Visa by 4.3% during the 4th quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock valued at $2,326,000 after purchasing an additional 465 shares during the last quarter. Private Trust Co. NA grew its holdings in Visa by 1.7% during the 4th quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock valued at $1,705,000 after purchasing an additional 140 shares during the last quarter. Finally, Foster Group Inc. bought a new position in Visa during the 4th quarter valued at about $210,000. 84.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Truist Financial upped their target price on shares of Visa from $260.00 to $270.00 in a research note on Wednesday, April 26th. BMO Capital Markets upped their target price on shares of Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. Oppenheimer upped their target price on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Citigroup upped their target price on shares of Visa from $270.00 to $273.00 in a research note on Wednesday, April 26th. Finally, Raymond James upped their target price on shares of Visa from $281.00 to $282.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $262.52.

Insiders Place Their Bets

In other Visa news, insider Rajat Taneja sold 2,300 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at $55,706,880. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Vasant M. Prabhu sold 40,000 shares of the stock in a transaction on Friday, April 28th. The shares were sold at an average price of $231.36, for a total value of $9,254,400.00. Following the sale, the chief financial officer now owns 73,638 shares in the company, valued at $17,036,887.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 2,300 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $552,000.00. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at approximately $55,706,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 142,602 shares of company stock valued at $33,336,374. Insiders own 0.21% of the company’s stock.

Visa Trading Up 1.0 %

NYSE:V opened at $240.58 on Wednesday. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $240.70. The firm has a 50 day moving average of $229.47 and a 200 day moving average of $225.54. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $450.68 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 1.82 and a beta of 0.97.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.79 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 8.59 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were issued a $0.45 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 24.06%.

Visa Company Profile

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.