Spinnaker Trust Has $9.76 Million Stake in Visa Inc. (NYSE:V)

Spinnaker Trust raised its stake in shares of Visa Inc. (NYSE:V) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,895 shares of the credit-card processor’s stock after buying an additional 1,374 shares during the quarter. Spinnaker Trust’s holdings in Visa were worth $9,764,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of V. Peterson Financial Group Inc. bought a new stake in shares of Visa in the third quarter worth about $26,000. Decker Retirement Planning Inc. bought a new stake in Visa during the 4th quarter worth approximately $26,000. Reston Wealth Management LLC bought a new stake in Visa during the 3rd quarter worth approximately $31,000. POM Investment Strategies LLC lifted its stake in Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $32,000. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V opened at $353.73 on Tuesday. The company’s 50-day moving average is $325.14 and its 200-day moving average is $299.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. The firm has a market capitalization of $657.15 billion, a PE ratio of 35.66, a PEG ratio of 2.32 and a beta of 0.97. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $356.08.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities analysts forecast that Visa Inc. will post 11.27 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Insider Buying and Selling at Visa

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,056 shares of company stock valued at $19,830,050 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

V has been the topic of a number of research analyst reports. Raymond James restated an “outperform” rating and set a $393.00 price objective (up from $374.00) on shares of Visa in a report on Friday, January 31st. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Oppenheimer lifted their target price on Visa from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company upped their price target on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.73.

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.