Indiana Trust & Investment Management CO decreased its position in shares of Visa Inc. (NYSE:V) by 6.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,077 shares of the credit-card processor’s stock after selling 551 shares during the period. Visa accounts for approximately 0.9% of Indiana Trust & Investment Management CO’s portfolio, making the stock its 26th biggest position. Indiana Trust & Investment Management CO’s holdings in Visa were worth $1,710,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Visa in the fourth quarter worth about $3,305,348,000. Morgan Stanley grew its position in Visa by 20.2% during the fourth quarter. Morgan Stanley now owns 40,793,518 shares of the credit-card processor’s stock worth $8,922,767,000 after buying an additional 6,857,457 shares in the last quarter. Viking Global Investors LP grew its position in Visa by 1,170.4% during the fourth quarter. Viking Global Investors LP now owns 4,085,538 shares of the credit-card processor’s stock worth $893,630,000 after buying an additional 3,763,943 shares in the last quarter. Egerton Capital UK LLP grew its position in Visa by 98.4% during the fourth quarter. Egerton Capital UK LLP now owns 4,194,576 shares of the credit-card processor’s stock worth $917,480,000 after buying an additional 2,080,265 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Visa by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 77,974,988 shares of the credit-card processor’s stock worth $17,039,976,000 after buying an additional 2,064,562 shares in the last quarter. 80.50% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on V. Credit Suisse Group lifted their target price on Visa from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, January 29th. Morgan Stanley lifted their price objective on Visa from $233.00 to $253.00 and gave the company an “overweight” rating in a report on Monday, March 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Visa from $220.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 14th. Barclays reaffirmed a “buy” rating and set a $230.00 price objective on shares of Visa in a report on Tuesday, December 22nd. Finally, Sanford C. Bernstein initiated coverage on Visa in a report on Tuesday, January 26th. They set an “outperform” rating and a $232.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $226.42.
Shares of Visa stock traded up $3.28 on Thursday, hitting $222.55. 150,857 shares of the company’s stock traded hands, compared to its average volume of 10,067,009. The firm’s 50-day moving average price is $214.52 and its two-hundred day moving average price is $207.22. The stock has a market capitalization of $434.49 billion, a PE ratio of 44.93, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. Visa Inc. has a one year low of $159.15 and a one year high of $228.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.91 and a quick ratio of 1.91.
Visa (NYSE:V) last issued its earnings results on Thursday, January 28th. The credit-card processor reported $1.42 EPS for the quarter, beating the consensus estimate of $1.28 by $0.14. The company had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Visa had a net margin of 49.74% and a return on equity of 37.22%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. On average, analysts forecast that Visa Inc. will post 5.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, February 11th. Visa’s dividend payout ratio is currently 25.40%.
In related news, insider Rajat Taneja sold 31,750 shares of the company’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $223.00, for a total value of $7,080,250.00. Following the completion of the sale, the insider now owns 282,606 shares in the company, valued at approximately $63,021,138. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction on Wednesday, March 31st. The shares were sold at an average price of $212.55, for a total transaction of $1,912,950.00. Following the completion of the sale, the chief executive officer now owns 163,112 shares of the company’s stock, valued at approximately $34,669,455.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,093 shares of company stock valued at $20,418,578. 0.19% of the stock is owned by corporate insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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