Somerset Trust Co Increases Stake in Visa Inc. $V

Somerset Trust Co raised its stake in Visa Inc. (NYSE:V) by 17.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 783 shares of the credit-card processor’s stock after purchasing an additional 116 shares during the quarter. Somerset Trust Co’s holdings in Visa were worth $278,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in V. Keystone Global Partners LLC purchased a new stake in Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the first quarter valued at about $27,000. 1 North Wealth Services LLC bought a new position in shares of Visa during the first quarter valued at about $38,000. Anderson Financial Strategies LLC bought a new stake in shares of Visa in the first quarter worth about $53,000. Finally, O Brien Wealth Partners LLC purchased a new position in Visa during the 1st quarter valued at about $54,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective for the company. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $385.96.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 1.2%

V stock opened at $339.33 on Friday. The business has a 50 day moving average of $347.03 and a 200 day moving average of $346.92. The firm has a market cap of $621.92 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same period in the prior year, the firm posted $2.42 earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

About Visa

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.