Indiana Trust & Investment Management Co Reduces Position in Visa Inc. (NYSE:V)

Indiana Trust & Investment Management Co lessened its holdings in shares of Visa Inc. (NYSE:V) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,328 shares of the credit-card processor’s stock after selling 907 shares during the quarter. Visa makes up 0.8% of Indiana Trust & Investment Management Co’s portfolio, making the stock its 23rd largest holding. Indiana Trust & Investment Management Co’s holdings in Visa were worth $2,316,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning raised its position in shares of Visa by 2.4% during the 3rd quarter. Creative Planning now owns 566,729 shares of the credit-card processor’s stock valued at $155,822,000 after purchasing an additional 13,318 shares during the period. Swedbank AB raised its position in shares of Visa by 10.7% during the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after purchasing an additional 199,440 shares during the period. Leisure Capital Management raised its position in shares of Visa by 3.7% during the 3rd quarter. Leisure Capital Management now owns 5,606 shares of the credit-card processor’s stock valued at $1,541,000 after purchasing an additional 199 shares during the period. Baskin Financial Services Inc. raised its position in shares of Visa by 0.4% during the 3rd quarter. Baskin Financial Services Inc. now owns 178,459 shares of the credit-card processor’s stock valued at $49,067,000 after purchasing an additional 748 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Visa by 5.8% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 38,389 shares of the credit-card processor’s stock valued at $10,555,000 after purchasing an additional 2,118 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $355.52 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $356.08. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $323.36 and a 200 day moving average price of $297.90. The stock has a market cap of $660.47 billion, a PE ratio of 35.84, a P/E/G ratio of 2.32 and a beta of 0.97.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities research analysts anticipate that Visa Inc. will post 11.27 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s dividend payout ratio is currently 23.79%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on V shares. JPMorgan Chase & Co. raised their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays lifted their price target on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a report on Friday, January 31st. Mizuho lifted their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $383.00 price target (up from $368.00) on shares of Visa in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Insiders Place Their Bets

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,056 shares of company stock worth $19,830,050 in the last three months. Corporate insiders own 0.13% of the company’s stock.

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.