WASHINGTON TRUST Co Has $76.92 Million Stock Position in Visa Inc (NYSE:V)
WASHINGTON TRUST Co lessened its stake in shares of Visa Inc (NYSE:V) by 1.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 477,409 shares of the credit-card processor’s stock after selling 5,612 shares during the quarter. Visa accounts for about 3.7% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 3rd largest position. WASHINGTON TRUST Co’s holdings in Visa were worth $76,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of V. OLD Second National Bank of Aurora acquired a new stake in Visa during the 4th quarter valued at $27,000. Stephenson National Bank & Trust acquired a new stake in Visa during the 4th quarter valued at $28,000. AlphaMark Advisors LLC increased its holdings in Visa by 57.8% during the 1st quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 63 shares in the last quarter. Laffer Investments acquired a new stake in Visa during the 4th quarter valued at $31,000. Finally, Accurate Investment Solutions Inc. increased its holdings in Visa by 117.1% during the 1st quarter. Accurate Investment Solutions Inc. now owns 241 shares of the credit-card processor’s stock valued at $39,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 82.43% of the company’s stock.
NYSE:V opened at $183.49 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s 50-day simple moving average is $169.86 and its 200 day simple moving average is $183.15. The company has a market cap of $359.72 billion, a P/E ratio of 33.06, a P/E/G ratio of 2.66 and a beta of 0.92. Visa Inc has a 52-week low of $133.93 and a 52-week high of $214.17.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Thursday, May 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Wednesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 22.06%.
In other Visa news, EVP Lynne Biggar sold 5,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $211.18, for a total transaction of $1,161,490.00. Following the completion of the sale, the executive vice president now directly owns 19,370 shares in the company, valued at $4,090,556.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $174.04, for a total value of $1,218,280.00. Following the sale, the chief executive officer now owns 145,090 shares of the company’s stock, valued at $25,251,463.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,500 shares of company stock valued at $4,782,030. 0.19% of the stock is currently owned by corporate insiders.
V has been the subject of several research reports. Credit Suisse Group lowered their target price on Visa from $223.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Raymond James lifted their price objective on Visa from $188.00 to $204.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Oppenheimer lifted their price objective on Visa from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Morgan Stanley lifted their price objective on Visa from $183.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $203.00.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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