Adirondack Trust Co. Has $1.43 Million Holdings in Visa Inc. (NYSE:V)

Adirondack Trust Co. cut its stake in Visa Inc. (NYSE:V) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,111 shares of the credit-card processor’s stock after selling 52 shares during the period. Adirondack Trust Co.’s holdings in Visa were worth $1,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of V. Altshuler Shaham Ltd acquired a new position in shares of Visa in the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new stake in Visa during the 4th quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the 4th quarter valued at $32,000. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter valued at $33,000. Finally, Valued Wealth Advisors LLC acquired a new stake in Visa during the 4th quarter valued at $37,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 1.2 %

NYSE V opened at $276.85 on Friday. The stock has a 50-day simple moving average of $273.99 and a 200 day simple moving average of $272.74. The company has a market capitalization of $506.34 billion, a PE ratio of 30.93, a P/E/G ratio of 1.87 and a beta of 0.97. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $224.98 and a 12 month high of $290.96.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on V shares. Macquarie raised their price target on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI raised their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. UBS Group raised their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Citigroup raised their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Oppenheimer boosted their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $303.76.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,402 shares of company stock valued at $9,559,382. Company insiders own 0.19% of the company’s stock.

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.