Rossmore Private Capital Has $9.03 Million Position in Visa Inc. (NYSE:V)

Rossmore Private Capital trimmed its stake in shares of Visa Inc. (NYSE:V) by 0.7% in the third quarter, Holdings Channel.com reports. The firm owned 32,857 shares of the credit-card processor’s stock after selling 223 shares during the quarter. Visa comprises approximately 1.1% of Rossmore Private Capital’s investment portfolio, making the stock its 20th biggest position. Rossmore Private Capital’s holdings in Visa were worth $9,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. KMG Fiduciary Partners LLC boosted its holdings in shares of Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after acquiring an additional 37 shares in the last quarter. Iron Horse Wealth Management LLC grew its holdings in shares of Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after purchasing an additional 37 shares during the last quarter. Washington Trust Bank grew its holdings in shares of Visa by 1.1% during the third quarter. Washington Trust Bank now owns 3,258 shares of the credit-card processor’s stock worth $896,000 after purchasing an additional 37 shares during the last quarter. Proffitt & Goodson Inc. raised its holdings in Visa by 20.3% in the 3rd quarter. Proffitt & Goodson Inc. now owns 219 shares of the credit-card processor’s stock valued at $60,000 after buying an additional 37 shares during the last quarter. Finally, Tlwm boosted its position in Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.2 %

V opened at $309.82 on Wednesday. Visa Inc. has a fifty-two week low of $244.11 and a fifty-two week high of $312.44. The firm has a market capitalization of $564.59 billion, a PE ratio of 31.84, a P/E/G ratio of 2.08 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The company’s 50-day moving average is $285.26 and its 200 day moving average is $275.17.

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

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is 21.38%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Bank of America upped their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

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.