Indiana Trust & Investment Management Co Raises Stock Holdings in Visa Inc. (NYSE:V)

Indiana Trust & Investment Management Co raised its position in shares of Visa Inc. (NYSE:V) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,235 shares of the credit-card processor’s stock after buying an additional 51 shares during the quarter. Visa comprises approximately 0.8% of Indiana Trust & Investment Management Co’s portfolio, making the stock its 24th biggest position. Indiana Trust & Investment Management Co’s holdings in Visa were worth $2,264,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in Visa by 4,412.3% in the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after acquiring an additional 4,166,905 shares in the last quarter. National Bank of Canada FI grew its position in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new stake in Visa during the 1st quarter valued at about $511,321,000. GQG Partners LLC raised its holdings in Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its stake in shares of Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after buying an additional 1,582,074 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. TD Cowen reduced their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Finally, BMO Capital Markets upped their target price on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $313.81.

Visa Stock Performance

NYSE V opened at $287.51 on Thursday. The firm has a market capitalization of $525.83 billion, a P/E ratio of 32.12, a PEG ratio of 1.94 and a beta of 0.96. The stock has a 50-day simple moving average of $275.69 and a two-hundred day simple moving average of $272.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 earnings per share. On average, equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio is presently 23.24%.

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.