Hemenway Trust Co LLC Sells 445 Shares of Visa Inc. (NYSE:V)

Hemenway Trust Co LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 18.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,003 shares of the credit-card processor’s stock after selling 445 shares during the quarter. Hemenway Trust Co LLC’s holdings in Visa were worth $551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Savvy Advisors Inc. boosted its holdings in shares of Visa by 25.2% during the 3rd quarter. Savvy Advisors Inc. now owns 5,237 shares of the credit-card processor’s stock valued at $1,440,000 after purchasing an additional 1,054 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in Visa by 3.8% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 36,520 shares of the credit-card processor’s stock valued at $10,041,000 after buying an additional 1,320 shares in the last quarter. Verus Capital Partners LLC increased its stake in Visa by 6.1% in the 3rd quarter. Verus Capital Partners LLC now owns 8,829 shares of the credit-card processor’s stock worth $2,428,000 after acquiring an additional 510 shares during the last quarter. Meridian Management Co. raised its holdings in shares of Visa by 3.1% during the 3rd quarter. Meridian Management Co. now owns 16,006 shares of the credit-card processor’s stock worth $4,401,000 after acquiring an additional 482 shares in the last quarter. Finally, Platform Technology Partners raised its holdings in shares of Visa by 1.4% during the 3rd quarter. Platform Technology Partners now owns 9,696 shares of the credit-card processor’s stock worth $2,666,000 after acquiring an additional 133 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred 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 owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Visa Trading Down 0.2 %

Shares of V stock opened at $309.82 on Wednesday. The company has a 50-day moving average of $284.64 and a two-hundred day moving average of $274.92. The firm has a market cap of $564.59 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. Visa Inc. has a 1-year low of $244.11 and a 1-year high of $312.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results 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 company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’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 firm earned $2.33 earnings per share. On average, analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s payout ratio is presently 21.38%.

Analysts Set New Price Targets

Several brokerages have weighed in on V. Mizuho boosted their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $321.74.

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.