Fiduciary Trust Co Raises Holdings in Visa Inc. (NYSE:V)

Fiduciary Trust Co boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,392 shares of the credit-card processor's stock after acquiring an additional 1,534 shares during the quarter. Fiduciary Trust Co's holdings in Visa were worth $42,789,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Visa during the fourth quarter valued at approximately $5,171,271,000. Vanguard Group Inc. raised its stake in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Visa during the 4th quarter valued at $1,955,403,000. Proficio Capital Partners LLC boosted its stake in shares of Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Susquehanna reissued a "positive" rating on shares of Visa in a research report on Friday, March 21st. JPMorgan Chase & Co. boosted their target price on shares of Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Oppenheimer reiterated an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Evercore ISI initiated coverage on shares of Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Finally, Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $362.38.

Visa Price Performance

V stock traded up $1.68 during trading on Friday, hitting $352.95. 3,086,498 shares of the company's stock traded hands, compared to its average volume of 7,169,131. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The stock has a market capitalization of $655.70 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 2.33 and a beta of 0.96. The business has a fifty day simple moving average of $336.98 and a 200 day simple moving average of $327.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm earned $2.51 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's dividend payout ratio is presently 23.72%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $185,576.46. This represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock valued at $41,548,282 over the last three months. 0.13% of the stock is owned by company 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.