Rockland Trust Co. Has $46.43 Million Stock Position in Visa Inc. (NYSE:V)

Rockland Trust Co. trimmed its holdings in Visa Inc. (NYSE:V) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,495 shares of the credit-card processor’s stock after selling 3,443 shares during the quarter. Visa makes up approximately 2.3% of Rockland Trust Co.’s holdings, making the stock its 9th biggest position. Rockland Trust Co.’s holdings in Visa were worth $46,434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC boosted its position in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after purchasing an additional 29 shares in the last quarter. FWL Investment Management LLC boosted its position in Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock worth $2,005,000 after purchasing an additional 29 shares in the last quarter. Warther Private Wealth LLC boosted its position in Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after purchasing an additional 30 shares in the last quarter. Valmark Advisers Inc. boosted its position in Visa by 0.4% during the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock worth $2,292,000 after purchasing an additional 30 shares in the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. boosted its position in Visa by 0.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,991,249.33. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,448 shares of company stock worth $50,133,659 over the last three months. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Shares of NYSE:V opened at $371.11 on Friday. The firm has a market capitalization of $684.76 billion, a PE ratio of 37.41, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $348.87 and a two-hundred day moving average of $337.17. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.51 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa’s dividend payout ratio is presently 23.72%.

Wall Street Analyst Weigh In

V has been the topic of a number of research analyst reports. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Oppenheimer reissued an “outperform” rating on shares of Visa in a report on Thursday, February 13th. William Blair reissued an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target for the company. Finally, Macquarie cut their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

About Visa

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.