Heritage Trust Co Trims Position in Visa Inc (V)
Heritage Trust Co lessened its holdings in Visa Inc (NYSE:V) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 5,718 shares of the credit-card processor’s stock after selling 193 shares during the period. Heritage Trust Co’s holdings in Visa were worth $754,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Highwater Wealth Management LLC bought a new position in Visa during the fourth quarter valued at $33,000. Ironwood Financial llc increased its position in Visa by 67.5% during the fourth quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock valued at $44,000 after acquiring an additional 135 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Visa by 180.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 396 shares of the credit-card processor’s stock valued at $52,000 after purchasing an additional 255 shares during the period. G&S Capital LLC boosted its stake in shares of Visa by 86.0% during the fourth quarter. G&S Capital LLC now owns 519 shares of the credit-card processor’s stock valued at $68,000 after purchasing an additional 240 shares during the period. Finally, First Command Bank lifted its stake in Visa by 70.8% in the fourth quarter. First Command Bank now owns 1,030 shares of the credit-card processor’s stock worth $136,000 after acquiring an additional 427 shares during the period. Institutional investors own 80.89% of the company’s stock.
In related news, SVP James H. Hoffmeister sold 6,480 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $151.00, for a total value of $978,480.00. Following the transaction, the senior vice president now owns 6,480 shares in the company, valued at approximately $978,480. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Ellen Richey sold 81,005 shares of the stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $139.99, for a total transaction of $11,339,889.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,531 shares of company stock worth $28,797,949. Corporate insiders own 0.17% of the company’s stock.
Visa (NYSE:V) last posted its quarterly earnings data on Wednesday, January 30th. The credit-card processor reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.05. Visa had a net margin of 50.61% and a return on equity of 39.32%. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, analysts anticipate that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 5th. Stockholders of record on Friday, February 15th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.65%. Visa’s dividend payout ratio (DPR) is currently 21.69%.
A number of analysts recently weighed in on the stock. Wedbush upped their price objective on shares of Visa from $150.00 to $162.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Deutsche Bank upped their price objective on shares of Visa from $160.00 to $177.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James reiterated an “outperform” rating and issued a $152.00 target price (down from $167.00) on shares of Visa in a report on Thursday, January 31st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $178.00 target price on shares of Visa in a report on Friday, December 21st. Finally, SunTrust Banks reiterated an “outperform” rating and issued a $250.00 target price on shares of Visa in a report on Friday, February 1st. One research analyst has rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $163.74.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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