Spinnaker Trust Boosts Stock Position in Visa Inc. (NYSE:V)

Spinnaker Trust grew its stake in Visa Inc. (NYSE:V) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,125 shares of the credit-card processor’s stock after buying an additional 127 shares during the quarter. Spinnaker Trust’s holdings in Visa were worth $7,583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of V. Investment Advisory Services Inc. TX ADV raised its holdings in Visa by 2.0% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after purchasing an additional 78 shares during the period. Nadler Financial Group Inc. raised its holdings in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after purchasing an additional 44 shares during the period. Towerpoint Wealth LLC acquired a new position in Visa in the 4th quarter worth about $216,000. Andrew Hill Investment Advisors Inc. acquired a new position in Visa in the 4th quarter worth about $3,427,000. Finally, Wayfinding Financial LLC raised its holdings in Visa by 10.1% in the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred 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 completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of 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. In the last 90 days, insiders have sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on V shares. Wedbush increased their target price on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday. Macquarie upped their price target on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup upped their price target on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer upped their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, TD Cowen began coverage on Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $302.58.

Visa Stock Performance

Shares of NYSE V traded down $0.64 during midday trading on Friday, reaching $274.52. 6,840,615 shares of the company were exchanged, compared to its average volume of 6,528,673. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The stock has a fifty day simple moving average of $279.24 and a 200 day simple moving average of $264.33. The stock has a market cap of $504.16 billion, a P/E ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the company posted $2.09 earnings per share. The business’s revenue was up 9.9% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

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.