WASHINGTON TRUST Co Sells 5,942 Shares of Visa Inc. (NYSE:V)

WASHINGTON TRUST Co decreased its stake in shares of Visa Inc. (NYSE:V) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 237,978 shares of the credit-card processor’s stock after selling 5,942 shares during the quarter. Visa comprises about 2.3% of WASHINGTON TRUST Co’s portfolio, making the stock its 11th largest holding. WASHINGTON TRUST Co’s holdings in Visa were worth $65,432,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. POM Investment Strategies LLC boosted its position in shares of 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 acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC raised its stake in Visa by 211.9% during 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 in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in Visa during the second quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa during the second quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC raised its stake in Visa by 52.9% during 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 in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on V shares. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Macquarie upped their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird upped their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Bank of America increased their target price on shares of Visa from $279.00 to $308.00 and gave the company 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 given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $320.07.

Visa Stock Down 0.1 %

Shares of Visa stock opened at $289.89 on Friday. 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 Inc. has a 1 year low of $232.99 and a 1 year high of $296.34. The firm’s 50-day moving average is $280.53 and its two-hundred day moving average is $273.50. The stock has a market cap of $528.27 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the business earned $2.33 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.12 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared 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 a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 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.