Grove Bank & Trust Has $3.74 Million Stake in Visa Inc. (NYSE:V)

Grove Bank & Trust boosted its position in Visa Inc. (NYSE:V) by 3.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,350 shares of the credit-card processor’s stock after purchasing an additional 438 shares during the period. Grove Bank & Trust’s holdings in Visa were worth $3,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Hibernia Wealth Partners LLC acquired a new stake in shares of Visa in the 3rd quarter worth about $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Visa in the 3rd quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the 4th quarter worth about $32,000. Financial Freedom LLC acquired a new stake in shares of Visa in the 4th quarter worth about $32,000. Finally, Nalls Sherbakoff Group LLC raised its holdings in shares of Visa by 545.5% in the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 1.7 %

NYSE:V opened at $271.28 on Tuesday. The firm has a market capitalization of $498.21 billion, a P/E ratio of 31.22, a PEG ratio of 1.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. Visa Inc. has a one year low of $216.14 and a one year high of $290.96. The company’s 50-day simple moving average is $280.04 and its 200 day simple moving average is $262.19.

Visa (NYSE:V) last issued its quarterly earnings results 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 return on equity of 50.02% and a net margin of 53.92%. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.55 billion. During the same period in the previous year, the firm posted $2.18 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders 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 0.77%. Visa’s dividend payout ratio is currently 23.94%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Evercore ISI increased their target price on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Mizuho restated a “neutral” rating and set a $265.00 price target on shares of Visa in a research note on Wednesday, March 27th. Royal Bank of Canada increased their target price on shares of Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, Susquehanna raised their price objective on shares of Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research report on Friday, January 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $296.87.

Insider Activity at Visa

In related news, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,511 shares of company stock valued at $15,131,081. 0.19% of the stock is owned by corporate insiders.

Visa 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.