New Covenant Trust Company N.A. Has $592,000 Stock Position in Visa Inc. (NYSE:V)

New Covenant Trust Company N.A. increased its position in Visa Inc. (NYSE:V) by 21.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,152 shares of the credit-card processor’s stock after purchasing an additional 380 shares during the quarter. New Covenant Trust Company N.A.’s holdings in Visa were worth $592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Visa during the third quarter worth $31,000. TruNorth Capital Management LLC raised its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in Visa during the 2nd quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new position in Visa during the 2nd quarter worth $35,000. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of NYSE V opened at $290.74 on Friday. The stock has a fifty day moving average of $281.00 and a 200-day moving average of $273.65. The stock has a market cap of $529.82 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa Inc. has a fifty-two week low of $239.20 and a fifty-two week high of $296.34.

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, beating 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 for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the business posted $2.33 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.17 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date 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 0.81%. Visa’s dividend payout ratio is currently 21.38%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on V shares. 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 report on Wednesday. Mizuho boosted their target price on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday. Susquehanna upped their target price on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $321.00 price target (up from $318.00) on shares of Visa in a report on Wednesday. Finally, William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $320.70.

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.