Visa Inc. $V Shares Sold by Rockland Trust Co.

Key Points

• Rockland Trust Co. reduced its stake in Visa Inc. by 2.1% in Q2, maintaining it as their 8th largest holding worth approximately $46 million.
• Visa's recent earnings report showed an EPS of $2.98, exceeding estimates, with a year-over-year revenue increase of 14.3%.
• The company announced a quarterly dividend of $0.59 per share, equating to an annualized yield of 0.7%, with a payout ratio of 23.05%.

Rockland Trust Co. reduced its position in Visa Inc. (NYSE:V - Free Report) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 129,735 shares of the credit-card processor's stock after selling 2,760 shares during the period. Visa comprises approximately 2.2% of Rockland Trust Co.'s holdings, making the stock its 8th biggest holding. Rockland Trust Co.'s holdings in Visa were worth $46,062,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. BIP Alliance LLC acquired a new position in shares of Visa in the 4th quarter valued at $392,000. 49 Wealth Management LLC boosted its holdings in shares of Visa by 1.7% in the 4th quarter. 49 Wealth Management LLC now owns 3,582 shares of the credit-card processor's stock valued at $1,132,000 after purchasing an additional 61 shares during the last quarter. Finally, Harmony Asset Management LLC boosted its holdings in shares of Visa by 0.7% in the 4th quarter. Harmony Asset Management LLC now owns 19,743 shares of the credit-card processor's stock valued at $6,240,000 after purchasing an additional 128 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE:V traded up $3.89 during midday trading on Friday, reaching $342.07. 13,657,860 shares of the company's stock were exchanged, compared to its average volume of 4,986,314. The company's 50 day simple moving average is $345.70 and its two-hundred day simple moving average is $346.41. The firm has a market capitalization of $626.94 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.52, 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, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the firm posted $2.42 EPS. The firm's quarterly revenue was up 14.3% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on V. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Morgan Stanley lifted their target price on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

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.