Washington Trust Bank Has $896,000 Holdings in Visa Inc. (NYSE:V)

Washington Trust Bank raised its position in shares of Visa Inc. (NYSE:V) by 1.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,258 shares of the credit-card processor’s stock after acquiring an additional 37 shares during the period. Washington Trust Bank’s holdings in Visa were worth $896,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. POM Investment Strategies LLC lifted its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa during the third quarter worth $31,000. TruNorth Capital Management LLC increased its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Abich Financial Wealth Management LLC increased its holdings in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa in the second quarter valued at $35,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group increased their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Compass Point initiated coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Macquarie increased their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Down 0.5 %

Shares of V stock opened at $305.76 on Friday. Visa Inc. has a 12 month low of $240.97 and a 12 month high of $309.00. The stock has a market cap of $557.19 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The company has a 50 day simple moving average of $282.69 and a two-hundred day simple moving average of $274.20.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 earnings per share. On average, research analysts expect that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.77%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 21.38%.

Visa 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.