Greenfield Savings Bank Acquires 89 Shares of Visa Inc. (NYSE:V)

Greenfield Savings Bank lifted its holdings in shares of Visa Inc. (NYSE:V) by 1.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,344 shares of the credit-card processor’s stock after acquiring an additional 89 shares during the period. Greenfield Savings Bank’s holdings in Visa were worth $1,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Custom Index Systems LLC bought a new stake in shares of Visa during the third quarter worth $731,000. Copley Financial Group Inc. bought a new stake in Visa during the 3rd quarter worth $616,000. FORA Capital LLC acquired a new position in Visa in the 3rd quarter worth about $7,987,000. Chicago Capital LLC raised its position in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the last quarter. Finally, Nexus Investment Management ULC boosted its stake in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after purchasing an additional 55,273 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. BMO Capital Markets raised their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Bank of America increased their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Mizuho lifted their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley increased their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $331.92.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Trading Up 0.8 %

NYSE:V opened at $309.24 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The company has a market cap of $576.08 billion, a PE ratio of 31.78, a PEG ratio of 2.11 and a beta of 0.96. The firm has a 50-day moving average of $312.76 and a 200-day moving average of $287.65.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts expect that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

About Visa

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.