Passumpsic Savings Bank Raises Stock Position in Visa Inc. (NYSE:V)

Passumpsic Savings Bank increased its position in Visa Inc. (NYSE:V) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,137 shares of the credit-card processor’s stock after acquiring an additional 179 shares during the period. Visa makes up about 1.6% of Passumpsic Savings Bank’s investment portfolio, making the stock its 27th biggest position. Passumpsic Savings Bank’s holdings in Visa were worth $2,512,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of V. Peterson Financial Group Inc. purchased a new stake in Visa in the 3rd quarter valued at approximately $26,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa in the third quarter valued at $31,000. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa during the 2nd quarter worth about $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Susquehanna raised their price target on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday. BMO Capital Markets upped their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $324.74.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Visa stock opened at $312.38 on Wednesday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $317.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $581.93 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96. The firm’s fifty day moving average price is $296.38 and its 200 day moving average price is $279.98.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company earned $2.33 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.