Ledyard National Bank lessened its stake in shares of Visa Inc (NYSE:V) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,206 shares of the credit-card processor’s stock after selling 2,090 shares during the period. Visa accounts for approximately 1.3% of Ledyard National Bank’s holdings, making the stock its 10th biggest position. Ledyard National Bank’s holdings in Visa were worth $11,588,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Fundsmith Equity Fund L.P. bought a new position in shares of Visa during the 2nd quarter valued at about $757,597,000. Bank of Montreal Can bought a new position in shares of Visa during the 2nd quarter valued at about $727,019,000. Vontobel Asset Management Inc. bought a new position in shares of Visa during the 2nd quarter valued at about $471,495,000. FMR LLC boosted its holdings in shares of Visa by 2.9% during the 2nd quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock valued at $11,320,026,000 after purchasing an additional 2,398,540 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. bought a new position in shares of Visa during the 2nd quarter valued at about $268,605,000. 80.53% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE V opened at $135.09 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $277.42 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.49 and a beta of 1.11. Visa Inc has a 1 year low of $111.02 and a 1 year high of $151.56.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th were paid a $0.25 dividend. The ex-dividend date was Thursday, November 15th. This represents a $1.00 annualized dividend and a yield of 0.74%. This is an increase from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio (DPR) is presently 21.69%.
Several research firms have commented on V. Wells Fargo & Co increased their price objective on shares of Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, October 1st. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Tuesday, September 25th. BMO Capital Markets began coverage on shares of Visa in a report on Wednesday, September 26th. They set an “outperform” rating and a $187.00 price objective for the company. Goldman Sachs Group downgraded shares of Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 price objective for the company. in a report on Monday, September 17th. Finally, Bank of America reissued a “buy” rating and set a $163.00 price objective on shares of Visa in a report on Monday, September 17th. Two research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average target price of $156.09.
In other Visa news, SVP James H. Hoffmeister sold 2,252 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $144.56, for a total value of $325,549.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William M. Sheedy sold 99,636 shares of the firm’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the sale, the executive vice president now directly owns 296,925 shares of the company’s stock, valued at approximately $41,355,714. The disclosure for this sale can be found here. In the last three months, insiders sold 119,395 shares of company stock valued at $16,697,489. 0.17% of the stock is owned by insiders.
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Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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