Midwest Trust Co Invests $82.87 Million in Visa Inc. $V

Midwest Trust Co purchased a new position in shares of Visa Inc. (NYSE:V) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 233,416 shares of the credit-card processor’s stock, valued at approximately $82,874,000. Visa accounts for approximately 1.1% of Midwest Trust Co’s investment portfolio, making the stock its 16th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC purchased a new position in shares of Visa during the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter valued at $28,000. Harbor Asset Planning Inc. purchased a new position in Visa in the second quarter valued at about $29,000. Cranbrook Wealth Management LLC grew its stake in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Hoese & Co LLP acquired a new position in Visa in the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In related news, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is owned by insiders.

Visa Trading Down 0.3%

NYSE:V opened at $335.91 on Monday. The company’s 50 day moving average is $343.52 and its 200-day moving average is $348.84. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The firm has a market cap of $615.66 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm earned $2.71 EPS. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is currently 23.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Robert W. Baird set a $425.00 price target on Visa in a report on Wednesday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Macquarie dropped their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Finally, Barclays restated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $400.00.

About Visa

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.