Heritage Trust Co Has $12.85 Million Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• Heritage Trust Co reduced its stake in Visa Inc. by 5.9% during the first quarter, now holding 36,651 shares valued at approximately $12.8 million.
• Visa recently announced a quarterly dividend of $0.59 per share, with a record date of August 12, and a resulting annualized yield of 0.7%.
• Analysts have issued a consensus rating of “Moderate Buy” for Visa, with an average target price of $380.84 following several upgrades from major financial institutions.

Heritage Trust Co reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,651 shares of the credit-card processor's stock after selling 2,306 shares during the period. Visa makes up about 1.6% of Heritage Trust Co's portfolio, making the stock its 11th biggest holding. Heritage Trust Co's holdings in Visa were worth $12,845,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in V. Argent Trust Co lifted its position in shares of Visa by 2.2% during the 1st quarter. Argent Trust Co now owns 103,735 shares of the credit-card processor's stock valued at $36,355,000 after acquiring an additional 2,273 shares during the period. Manchester Capital Management LLC lifted its position in Visa by 7.2% during the first quarter. Manchester Capital Management LLC now owns 7,252 shares of the credit-card processor's stock worth $2,542,000 after purchasing an additional 488 shares during the period. Cheviot Value Management LLC grew its stake in Visa by 8.0% during the first quarter. Cheviot Value Management LLC now owns 71,139 shares of the credit-card processor's stock worth $24,802,000 after buying an additional 5,253 shares in the last quarter. Liberty Wealth Management LLC increased its holdings in Visa by 439.9% in the 1st quarter. Liberty Wealth Management LLC now owns 59,696 shares of the credit-card processor's stock valued at $20,921,000 after buying an additional 48,639 shares during the period. Finally, J. Safra Sarasin Holding AG increased its holdings in Visa by 27.1% in the 1st quarter. J. Safra Sarasin Holding AG now owns 80,330 shares of the credit-card processor's stock valued at $27,997,000 after buying an additional 17,104 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock valued at $32,902,432 in the last three months. 0.13% of the stock is owned by insiders.

Visa Trading Down 1.9%

Shares of NYSE V traded down $6.66 during trading on Friday, reaching $338.81. The company had a trading volume of 8,655,366 shares, compared to its average volume of 6,179,344. The stock has a market cap of $625.16 billion, a P/E ratio of 33.09, a PEG ratio of 2.26 and a beta of 0.94. The company's fifty day moving average price is $355.06 and its 200-day moving average price is $346.75. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 earnings per share. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is currently 23.05%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price on the stock. Raymond James Financial reissued an "outperform" rating on shares of Visa in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and an average target price of $380.84.

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.