Visa Inc. $V Shares Sold by Florida Trust Wealth Management Co

Florida Trust Wealth Management Co decreased its holdings in shares of Visa Inc. (NYSE:V) by 1.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 261,424 shares of the credit-card processor’s stock after selling 3,278 shares during the period. Visa accounts for about 2.5% of Florida Trust Wealth Management Co’s holdings, making the stock its 6th biggest holding. Florida Trust Wealth Management Co’s holdings in Visa were worth $89,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. purchased a new stake in shares of Visa during the second quarter worth about $29,000. Sagard Holdings Management Inc. acquired a new stake in Visa in the 2nd quarter worth about $31,000. Cranbrook Wealth Management LLC boosted its holdings in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Bare Financial Services Inc increased its stake in Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares in the last quarter. Finally, Hoese & Co LLP acquired a new position in shares of Visa during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.2%

Shares of V stock opened at $328.41 on Tuesday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50-day moving average of $339.29 and a two-hundred day moving average of $343.18. The firm has a market cap of $598.28 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.81.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.71 earnings per share. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 24,042 shares of company stock valued at $8,247,289. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on V. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. HSBC raised shares of Visa from a “hold” rating to a “buy” rating and lifted their target price for the stock from $335.00 to $389.00 in a research note on Sunday, December 7th. KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Macquarie lowered their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Citigroup raised shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $402.52.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.