WASHINGTON TRUST Co Has $75.20 Million Stock Holdings in Visa Inc. $V

WASHINGTON TRUST Co lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 220,290 shares of the credit-card processor’s stock after selling 2,283 shares during the quarter. Visa makes up approximately 2.5% of WASHINGTON TRUST Co’s portfolio, making the stock its 11th largest holding. WASHINGTON TRUST Co’s holdings in Visa were worth $75,203,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sagard Holdings Management Inc. acquired a new stake in Visa during the second quarter worth $31,000. Bare Financial Services Inc boosted its holdings in shares of Visa by 287.0% in the 2nd 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 in the last quarter. Winnow Wealth LLC bought a new stake in shares of Visa during the second quarter worth $40,000. Decker Retirement Planning Inc. acquired a new stake in Visa in the 2nd quarter valued at about $41,000. Finally, Moisand Fitzgerald Tamayo LLC raised its position in Visa by 344.8% in the 3rd quarter. Moisand Fitzgerald Tamayo LLC now owns 129 shares of the credit-card processor’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.7%

V opened at $319.07 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock has a market capitalization of $579.17 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 1.83 and a beta of 0.79. The company has a 50-day simple moving average of $333.00 and a 200 day simple moving average of $338.09.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the business posted $2.75 EPS. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 25.14%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on V. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 price target on shares of Visa in a research note on Friday, January 30th. Truist Financial set a $372.00 price target on Visa in a research note on Tuesday, February 10th. Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price target on the stock in a research note on Thursday, December 11th. Rothschild & Co Redburn set a $385.00 target price on shares of Visa in a research note on Wednesday, January 28th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $391.43.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.