Visa Inc. (NYSE:V) Holdings Boosted by Ledyard National Bank

Ledyard National Bank boosted its position in shares of Visa Inc. (NYSE:V) by 2.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 49,873 shares of the credit-card processor’s stock after buying an additional 1,191 shares during the quarter. Visa accounts for 1.3% of Ledyard National Bank’s investment portfolio, making the stock its 22nd biggest holding. Ledyard National Bank’s holdings in Visa were worth $13,713,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of V. Vanguard Group Inc. lifted its stake in shares of Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors lifted its stake in shares of Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors lifted its stake in shares of Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.3 %

Shares of NYSE:V opened at $286.85 on Tuesday. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $524.63 billion, a PE ratio of 32.05, a PEG ratio of 2.00 and a beta of 0.96. The company has a 50 day moving average price of $277.45 and a two-hundred day moving average price of $272.97.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 earnings per share. Analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on V. Citigroup cut their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Piper Sandler cut their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. BMO Capital Markets boosted their price objective on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Evercore ISI dropped their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Robert W. Baird boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $314.19.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is owned by insiders.

Visa 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.