WASHINGTON TRUST Co Sells 3,087 Shares of Visa Inc. $V

WASHINGTON TRUST Co cut its position in shares of Visa Inc. (NYSE:V) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 222,573 shares of the credit-card processor’s stock after selling 3,087 shares during the quarter. Visa comprises 2.8% of WASHINGTON TRUST Co’s portfolio, making the stock its 9th biggest position. WASHINGTON TRUST Co’s holdings in Visa were worth $79,024,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Yeomans Consulting Group Inc. raised its holdings in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the period. Semus Wealth Partners LLC raised its stake in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after acquiring an additional 29 shares during the period. BankPlus Wealth Management LLC lifted its holdings in shares of Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after acquiring an additional 29 shares in the last quarter. Transcendent Capital Group LLC lifted its holdings in shares of Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Finally, Valued Retirements Inc. boosted its position in Visa by 4.3% during the 1st quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock worth $255,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V opened at $335.76 on Friday. The firm has a market cap of $615.37 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.05 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $342.43 and its two-hundred day moving average is $348.69. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the firm earned $2.71 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. Analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Analysts Set New Price Targets

Several research firms have commented on V. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Macquarie dropped their price objective 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. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.