OLD Point Trust & Financial Services N A Has $1.78 Million Position in Visa Inc. (NYSE:V)

OLD Point Trust & Financial Services N A decreased its holdings in shares of Visa Inc. (NYSE:V) by 10.9% in the fourth quarter, Holdings Channel reports. The firm owned 5,626 shares of the credit-card processor’s stock after selling 689 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Visa were worth $1,778,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Riverstone Advisors LLC acquired a new stake in shares of Visa during the 4th quarter worth about $217,000. Journey Strategic Wealth LLC grew its stake in Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after buying an additional 1,361 shares during the last quarter. King Wealth Management Group increased its holdings in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in shares of Visa in the fourth quarter valued at approximately $10,163,000. Finally, Copley Financial Group Inc. acquired a new position in shares of Visa in the 3rd quarter worth approximately $616,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Thursday. Susquehanna increased their price objective on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Stock Performance

Shares of V opened at $339.92 on Thursday. The firm has a market cap of $631.50 billion, a P/E ratio of 34.27, a PEG ratio of 2.33 and a beta of 0.95. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50 day moving average price is $339.38 and its two-hundred day moving average price is $312.21.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. Visa’s dividend payout ratio is currently 23.79%.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. The trade was a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. This trade represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,855 shares of company stock worth $35,165,827 over the last ninety days. Insiders own 0.13% of the company’s stock.

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.