Philadelphia Trust Co. Lowers Position in Visa Inc. (NYSE:V)

Philadelphia Trust Co. decreased its stake in Visa Inc. (NYSE:V) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,660 shares of the credit-card processor’s stock after selling 2,109 shares during the period. Philadelphia Trust Co.’s holdings in Visa were worth $7,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Hirtle Callaghan & Co LLC boosted its holdings in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock valued at $724,000 after acquiring an additional 29 shares during the period. Elevation Wealth Partners LLC lifted its position in Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock valued at $297,000 after purchasing an additional 30 shares during the period. Warther Private Wealth LLC lifted its holdings in shares of Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock valued at $928,000 after buying an additional 30 shares during the period. Valmark Advisers Inc. boosted its stake in shares of Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after buying an additional 30 shares in the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. raised its position in Visa by 0.4% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 30 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 company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $188,186.28. This represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,842,490 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several research analyst reports. Evercore ISI started coverage on shares of Visa in a research report on Wednesday. They set an “in-line” rating and a $330.00 target price on the stock. UBS Group boosted their target price on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Friday, January 31st. Susquehanna restated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Finally, Wells Fargo & Company raised their price target on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $355.84.

Visa Price Performance

NYSE V opened at $333.69 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $619.91 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The stock’s 50-day moving average is $342.40 and its two-hundred day moving average is $318.76. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $366.54.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping 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 anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is 23.79%.

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.