Adirondack Trust Co. Trims Position in Visa Inc. (NYSE:V)

Adirondack Trust Co. trimmed its holdings in Visa Inc. (NYSE:V) by 2.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,163 shares of the credit-card processor’s stock after selling 151 shares during the period. Adirondack Trust Co.’s holdings in Visa were worth $1,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Altshuler Shaham Ltd acquired a new position in shares of Visa during the third quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Visa during the fourth quarter worth about $37,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Oppenheimer upped their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. UBS Group upped their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Royal Bank of Canada upped their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Redburn Atlantic restated a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Finally, TD Cowen initiated coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $303.76.

Visa Stock Performance

NYSE:V opened at $273.62 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market cap of $500.43 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.86 and a beta of 0.97. Visa Inc. has a fifty-two week low of $224.98 and a fifty-two week high of $290.96. The firm’s 50 day moving average is $273.97 and its two-hundred day moving average is $272.70.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter last year, the firm posted $2.09 earnings per share. Visa’s revenue was up 9.9% on a year-over-year basis. Analysts expect that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders sold 34,402 shares of company stock valued at $9,559,382 over the last 90 days. Corporate insiders own 0.19% 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.