Midwest Trust Co Buys Shares of 233,416 Visa Inc. $V

Midwest Trust Co purchased a new position in Visa Inc. (NYSE:V) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 233,416 shares of the credit-card processor’s stock, valued at approximately $82,874,000. Visa makes up 1.1% of Midwest Trust Co’s investment portfolio, making the stock its 16th biggest holding.

Other large investors also recently modified their holdings of the company. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter valued at about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the 2nd quarter worth approximately $29,000. Cranbrook Wealth Management LLC boosted its holdings in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, Hoese & Co LLP acquired a new position in shares of Visa during the second quarter valued at approximately $36,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on V. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 23,897 shares of company stock valued at $8,164,561 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $335.91 on Monday. The stock’s fifty day simple moving average is $343.52 and its 200 day simple moving average is $348.84. The stock has a market capitalization of $615.66 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.03 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is 23.11%.

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.