Ledyard National Bank Boosts Stock Position in Visa Inc. (NYSE:V)

Ledyard National Bank raised its stake in shares of Visa Inc. (NYSE:V) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,873 shares of the credit-card processor’s stock after acquiring an additional 1,191 shares during the period. Visa makes up 1.3% of Ledyard National Bank’s investment portfolio, making the stock its 22nd biggest holding. Ledyard National Bank’s holdings in Visa were worth $13,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. POM Investment Strategies LLC increased its position in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Abich Financial Wealth Management LLC grew its holdings in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the period. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa in the 2nd quarter worth approximately $35,000. Finally, Bbjs Financial Advisors LLC acquired a new stake in Visa during the 2nd quarter valued at $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE:V opened at $286.85 on Tuesday. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The stock has a market cap of $524.63 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.00 and a beta of 0.96. The stock’s 50 day moving average price is $277.45 and its 200 day moving average price is $272.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 earnings per share. Equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

V has been the topic of a number of analyst reports. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Bank of America increased their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Evercore ISI reduced their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

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.