Visa Inc. (NYSE:V) is Rockland Trust Co.’s 9th Largest Position

Rockland Trust Co. lowered its holdings in Visa Inc. (NYSE:V) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,495 shares of the credit-card processor’s stock after selling 3,443 shares during the period. Visa comprises 2.3% of Rockland Trust Co.’s portfolio, making the stock its 9th largest position. Rockland Trust Co.’s holdings in Visa were worth $46,434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC raised its stake in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock valued at $12,729,901,000 after buying an additional 1,689,926 shares in the last quarter. Capital International Investors raised its stake in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock valued at $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors raised its stake in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Oppenheimer restated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Macquarie cut their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Citigroup began coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $372.80.

Visa Stock Down 0.6%

V opened at $371.11 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $684.76 billion, a P/E ratio of 37.41, a P/E/G ratio of 2.33 and a beta of 0.94. The stock’s 50 day moving average price is $348.87 and its 200 day moving average price is $337.17.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the firm earned $2.51 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $194,807.49. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,448 shares of company stock valued at $50,133,659. 0.13% of the stock is owned by corporate insiders.

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.