Visa Inc. (NYSE:V) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. trimmed its holdings in Visa Inc. (NYSE:V) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,946 shares of the credit-card processor’s stock after selling 61 shares during the period. Adirondack Trust Co.’s holdings in Visa were worth $1,563,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Scientech Research LLC boosted its position in Visa by 35.5% in the 2nd quarter. Scientech Research LLC now owns 4,907 shares of the credit-card processor’s stock valued at $1,288,000 after buying an additional 1,285 shares during the period. Susquehanna International Group Ltd. acquired a new stake in shares of Visa in the 2nd quarter valued at $241,000. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Visa by 28.4% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,814 shares of the credit-card processor’s stock worth $739,000 after buying an additional 623 shares during the last quarter. Kathmere Capital Management LLC lifted its stake in Visa by 7.5% during the second quarter. Kathmere Capital Management LLC now owns 10,337 shares of the credit-card processor’s stock worth $2,713,000 after purchasing an additional 719 shares during the last quarter. Finally, Brick & Kyle Associates boosted its holdings in Visa by 5.2% in the second quarter. Brick & Kyle Associates now owns 19,030 shares of the credit-card processor’s stock valued at $4,995,000 after purchasing an additional 935 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of V opened at $330.20 on Friday. The firm has a market cap of $615.11 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.17 and a beta of 0.96. The stock has a 50 day moving average of $314.95 and a 200-day moving average of $290.42. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $331.09.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 earnings per share. As a group, analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on V. Robert W. Baird upped their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Oppenheimer increased their price target on Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, Piper Sandler boosted their price objective on shares of Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a research note on Friday. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $334.58.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Company 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.