Sageworth Trust Co Boosts Holdings in Visa Inc. $V

Sageworth Trust Co boosted its holdings in Visa Inc. (NYSE:VFree Report) by 175.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,668 shares of the credit-card processor’s stock after purchasing an additional 1,698 shares during the quarter. Sageworth Trust Co’s holdings in Visa were worth $806,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Visa by 2.0% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 12,606 shares of the credit-card processor’s stock worth $3,810,000 after buying an additional 251 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of Visa by 0.9% during the first quarter. Frank Rimerman Advisors LLC now owns 29,431 shares of the credit-card processor’s stock worth $8,895,000 after acquiring an additional 256 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. grew its stake in Visa by 0.8% during the first quarter. Mine & Arao Wealth Creation & Management LLC. now owns 15,235 shares of the credit-card processor’s stock valued at $4,604,000 after acquiring an additional 116 shares in the last quarter. Stenger Family Office LLC grew its stake in Visa by 7.0% during the first quarter. Stenger Family Office LLC now owns 12,072 shares of the credit-card processor’s stock valued at $3,649,000 after acquiring an additional 794 shares in the last quarter. Finally, Lmcg Investments LLC increased its holdings in Visa by 6.9% in the 1st quarter. Lmcg Investments LLC now owns 67,591 shares of the credit-card processor’s stock valued at $20,429,000 after acquiring an additional 4,336 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

V stock opened at $347.66 on Thursday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.02. The firm has a market capitalization of $623.62 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.88 and a beta of 0.75. The company has a fifty day simple moving average of $329.75 and a two-hundred day simple moving average of $324.89. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.76 EPS. Analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa declared that its board has approved a stock repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s payout ratio is presently 23.34%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,490 shares of Visa stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,219,704.26. The trade was a 40.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,581 shares of company stock valued at $25,627,975 over the last ninety days. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Loop Capital initiated coverage on shares of Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target on the stock. Sanford C. Bernstein restated an “outperform” rating and set a $450.00 price objective on shares of Visa in a research report on Tuesday, June 2nd. Barclays assumed coverage on Visa in a report on Tuesday. They issued an “overweight” rating and a $420.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Finally, Citigroup cut their price target on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Six investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $397.91.

Check Out Our Latest Stock Report on Visa

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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