Private Trust Co. NA Has $4.91 Million Stock Holdings in Visa Inc. $V

Private Trust Co. NA grew its holdings in Visa Inc. (NYSE:V) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,842 shares of the credit-card processor’s stock after buying an additional 531 shares during the period. Private Trust Co. NA’s holdings in Visa were worth $4,914,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new position in shares of Visa during the first quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the first quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the 2nd quarter worth $28,000. Harbor Asset Planning Inc. bought a new position in Visa during the 2nd quarter worth $29,000. Finally, Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Robert W. Baird set a $410.00 price objective on Visa and gave the stock an “outperform” rating in a research note on Monday, October 6th. Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Finally, Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $389.00.

Visa Stock Up 0.7%

Shares of V opened at $344.44 on Tuesday. The company has a market capitalization of $631.28 billion, a PE ratio of 33.64, a PEG ratio of 2.03 and a beta of 0.90. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The stock’s 50-day moving average price is $344.47 and its two-hundred day moving average price is $347.11. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Visa Company 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.