Glenview Trust co Raises Holdings in Visa Inc. $V

Glenview Trust co lifted its position in Visa Inc. (NYSE:V) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,367 shares of the credit-card processor’s stock after acquiring an additional 2,093 shares during the quarter. Glenview Trust co’s holdings in Visa were worth $29,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Keystone Global Partners LLC purchased a new position in Visa in the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter worth $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Visa in the 2nd quarter valued at approximately $29,000. Sagard Holdings Management Inc. purchased a new position in shares of Visa in the second quarter worth $31,000. Finally, Bare Financial Services Inc increased its stake in shares of Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 66 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

V has been the topic of several analyst reports. Hsbc Global Res raised Visa from a “hold” rating to a “strong-buy” rating in a report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Macquarie decreased their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, Raymond James Financial restated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Five analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $399.52.

Insider Activity

In related news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 24,042 shares of company stock valued at $8,175,152 in the last ninety days. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

NYSE:V opened at $325.57 on Thursday. The firm has a market capitalization of $593.09 billion, a PE ratio of 31.89, a price-to-earnings-growth ratio of 1.93 and a beta of 0.82. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The business’s fifty day moving average price is $337.72 and its 200 day moving average price is $345.38.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm posted $2.71 EPS. The company’s revenue was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 12th. Visa’s payout ratio is 26.25%.

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.