Glenmede Trust Co. NA Has $125.30 Million Stake in Visa Inc. (NYSE:V)

Glenmede Trust Co. NA reduced its stake in Visa Inc. (NYSE:V) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 455,700 shares of the credit-card processor’s stock after selling 10,716 shares during the quarter. Glenmede Trust Co. NA’s holdings in Visa were worth $125,295,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in V. WFA Asset Management Corp boosted its position in shares of Visa by 4.6% during the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after acquiring an additional 100 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of Visa during the 1st quarter worth approximately $818,000. Citizens Financial Group Inc. RI grew its position in Visa by 2.9% in the first quarter. Citizens Financial Group Inc. RI now owns 72,034 shares of the credit-card processor’s stock valued at $20,103,000 after acquiring an additional 2,044 shares during the period. Pacific Center for Financial Services lifted its holdings in shares of Visa by 28.3% during the first quarter. Pacific Center for Financial Services now owns 5,913 shares of the credit-card processor’s stock valued at $1,650,000 after acquiring an additional 1,306 shares during the period. Finally, Strategic Wealth Partners Ltd. increased its position in Visa by 6.1% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 37,190 shares of the credit-card processor’s stock valued at $10,379,000 after acquiring an additional 2,141 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 0.4 %

Visa stock opened at $311.82 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company’s 50-day moving average is $290.37 and its 200-day moving average is $277.80. The firm has a market capitalization of $580.88 billion, a PE ratio of 32.05, a P/E/G ratio of 2.10 and a beta of 0.95. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $314.50.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on V shares. JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Susquehanna boosted their target price on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Oppenheimer restated an “outperform” rating and issued a $321.00 price objective (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their price target on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four research 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 data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

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.