Rockland Trust Co. Has $46.43 Million Stock Position in Visa Inc. (NYSE:V)

Rockland Trust Co. lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,495 shares of the credit-card processor's stock after selling 3,443 shares during the quarter. Visa comprises about 2.3% of Rockland Trust Co.'s investment portfolio, making the stock its 9th largest position. Rockland Trust Co.'s holdings in Visa were worth $46,434,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa in the fourth quarter valued at about $27,000. POM Investment Strategies LLC increased its stake in shares of Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Compass Planning Associates Inc bought a new stake in shares of Visa in the 4th quarter valued at about $32,000. NewSquare Capital LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $35,000. Finally, FPC Investment Advisory Inc. boosted its stake in Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Analyst Ratings Changes

V has been the subject of several recent analyst reports. Macquarie lowered their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Piper Sandler upped their price objective on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price for the company. Finally, Jefferies Financial Group raised their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $372.80.

Visa Stock Down 5.0%

V traded down $18.65 on Friday, hitting $352.75. 14,176,249 shares of the company were exchanged, compared to its average volume of 7,023,528. The stock's fifty day moving average is $348.87 and its 200-day moving average is $337.17. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $650.87 billion, a PE ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the prior year, the business posted $2.51 EPS. The business's revenue was up 9.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,448 shares of company stock valued at $50,133,659 in the last quarter. Company insiders own 0.13% of the company's stock.

Visa 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.