Essex Savings Bank Purchases 916 Shares of Visa Inc. (NYSE:V)

Essex Savings Bank boosted its position in Visa Inc. (NYSE:VFree Report) by 6.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,701 shares of the credit-card processor’s stock after purchasing an additional 916 shares during the period. Visa makes up approximately 1.2% of Essex Savings Bank’s investment portfolio, making the stock its 17th biggest holding. Essex Savings Bank’s holdings in Visa were worth $4,088,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of V. Hibernia Wealth Partners LLC purchased a new position in Visa in the 3rd quarter worth about $25,000. Altshuler Shaham Ltd purchased a new position in shares of Visa during the third quarter worth approximately $25,000. West Tower Group LLC bought a new stake in shares of Visa during the second quarter valued at approximately $30,000. Financial Freedom LLC purchased a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Finally, Nalls Sherbakoff Group LLC grew its stake in Visa by 545.5% in the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Jefferies Financial Group increased their target price on shares of Visa from $280.00 to $295.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Barclays raised their target price on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Monness Crespi & Hardt began coverage on shares of Visa in a research report on Wednesday, December 20th. They issued a “neutral” rating for the company. Finally, Evercore ISI lifted their price objective on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.82.

Read Our Latest Research Report on Visa

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders have sold a total of 55,511 shares of company stock valued at $15,131,081 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Up 0.1 %

Visa stock opened at $278.55 on Wednesday. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The firm has a market cap of $511.56 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The business’s 50-day moving average price is $279.62 and its 200 day moving average price is $259.44. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same quarter last year, the company earned $2.18 EPS. The business’s revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.94%.

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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