Ledyard National Bank Purchases 242 Shares of Visa Inc. (NYSE:V)

Ledyard National Bank boosted its position in shares of Visa Inc. (NYSE:V) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,420 shares of the credit-card processor’s stock after buying an additional 242 shares during the period. Visa makes up approximately 1.3% of Ledyard National Bank’s investment portfolio, making the stock its 23rd largest position. Ledyard National Bank’s holdings in Visa were worth $12,346,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Visa by 17,418.7% during the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after buying an additional 4,710,188 shares during the last quarter. FMR LLC raised its position in Visa by 4.7% in the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Visa during the third quarter worth about $358,349,000. The Manufacturers Life Insurance Company grew its holdings in Visa by 34.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock worth $903,955,000 after acquiring an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Visa by 28.0% during the third quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock worth $916,174,000 after purchasing an additional 871,439 shares during the period. 82.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders have sold 19,874 shares of company stock worth $5,506,827 in the last three months. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V stock traded down $2.71 on Monday, hitting $271.81. 4,191,968 shares of the stock were exchanged, compared to its average volume of 5,930,494. Visa Inc. has a one year low of $216.14 and a one year high of $290.96. The firm’s 50 day moving average is $279.11 and its two-hundred day moving average is $264.97. The firm has a market capitalization of $499.18 billion, a PE ratio of 30.37, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 EPS. Sell-side analysts expect that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a dividend of $0.52 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Oppenheimer raised their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Citigroup upped their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their target price on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. Evercore ISI boosted their target price on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Finally, Susquehanna increased their price target on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $302.58.

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.