Fiduciary Trust Co Purchases 2,697 Shares of Visa Inc. (NYSE:V)

Fiduciary Trust Co boosted its position in shares of Visa Inc. (NYSE:V) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,858 shares of the credit-card processor’s stock after acquiring an additional 2,697 shares during the period. Fiduciary Trust Co’s holdings in Visa were worth $36,804,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of V. Boussard & Gavaudan Investment Management LLP acquired a new position in shares of Visa during the third quarter worth approximately $27,425,000. FORA Capital LLC acquired a new position in Visa during the 3rd quarter valued at $7,987,000. MetLife Investment Management LLC boosted its holdings in Visa by 2.3% in the 3rd quarter. MetLife Investment Management LLC now owns 504,472 shares of the credit-card processor’s stock valued at $138,705,000 after purchasing an additional 11,472 shares during the period. RPg Family Wealth Advisory LLC boosted its holdings in Visa by 3.1% in the 3rd quarter. RPg Family Wealth Advisory LLC now owns 28,809 shares of the credit-card processor’s stock valued at $7,921,000 after purchasing an additional 876 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Visa by 110.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 27,957 shares of the credit-card processor’s stock worth $7,687,000 after purchasing an additional 14,675 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.9 %

Shares of NYSE:V opened at $314.65 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $586.15 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.10 and a beta of 0.95. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $316.37. The company’s 50-day moving average price is $290.89 and its two-hundred day moving average price is $278.06.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. Visa’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 24.25%.

Analyst Ratings Changes

V has been the subject of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 target price (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Piper Sandler boosted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Activity

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Visa Company 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.