Rockland Trust Co. Has $37 Million Holdings in Visa Inc. (NYSE:V)

Rockland Trust Co. boosted its position in Visa Inc. (NYSE:V) by 2.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 134,557 shares of the credit-card processor’s stock after acquiring an additional 3,587 shares during the quarter. Visa makes up approximately 1.8% of Rockland Trust Co.’s investment portfolio, making the stock its 15th largest holding. Rockland Trust Co.’s holdings in Visa were worth $36,996,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hilltop National Bank bought a new stake in Visa in the first quarter valued at about $1,212,000. Absolute Capital Management LLC acquired a new stake in Visa during the 1st quarter worth approximately $404,000. Davidson Capital Management Inc. lifted its position in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after acquiring an additional 44 shares in the last quarter. Empirical Finance LLC raised its position in Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares during the last quarter. Finally, Arjuna Capital lifted its position in shares of Visa by 0.8% in the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 0.1 %

Visa stock opened at $276.86 on Friday. The firm has a 50 day moving average of $272.63 and a 200 day moving average of $273.12. The firm has a market capitalization of $506.36 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 1.94 and a beta of 0.96. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm posted $2.16 EPS. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s payout ratio is 23.24%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on V shares. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Compass Point started coverage on shares of Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. TD Cowen dropped their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, BMO Capital Markets upped their price objective on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.