Fiduciary Trust Co Has $36.80 Million Holdings in Visa Inc. (NYSE:V)

Fiduciary Trust Co raised its holdings in Visa Inc. (NYSE:V) by 2.1% in the third quarter, Holdings Channel reports. 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 modified their holdings of V. Arjuna Capital raised its stake in shares of Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares during the period. Custom Index Systems LLC acquired a new stake in Visa in the 3rd quarter valued at approximately $731,000. Mechanics Bank Trust Department lifted its stake in Visa by 8.0% in the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after acquiring an additional 2,410 shares in the last quarter. Chicago Capital LLC boosted its position in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft grew its stake in shares of Visa by 9.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock worth $15,299,000 after acquiring an additional 4,988 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $314.65 on Thursday. The company has a market capitalization of $586.15 billion, a price-to-earnings ratio of 32.34, a PEG ratio of 2.10 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $316.37. The stock’s 50 day moving average is $290.89 and its 200-day moving average is $278.06.

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

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on V. Macquarie boosted their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird increased their price target on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insiders Place Their Bets

In related news, 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

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.