First County Bank CT Raises Holdings in Visa Inc. (NYSE:V)

First County Bank CT boosted its stake in shares of Visa Inc. (NYSE:V) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 3,846 shares of the credit-card processor’s stock after buying an additional 83 shares during the period. First County Bank CT’s holdings in Visa were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of V. 49 Wealth Management LLC grew its holdings in Visa by 34.5% in the third quarter. 49 Wealth Management LLC now owns 3,521 shares of the credit-card processor’s stock valued at $968,000 after purchasing an additional 904 shares during the period. Eagle Asset Management Inc. increased its holdings in Visa by 14.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 36,905 shares of the credit-card processor’s stock worth $10,147,000 after acquiring an additional 4,726 shares in the last quarter. Activest Wealth Management increased its holdings in Visa by 32.3% in the 3rd quarter. Activest Wealth Management now owns 545 shares of the credit-card processor’s stock worth $150,000 after acquiring an additional 133 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Visa by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after acquiring an additional 670,590 shares during the period. Finally, Banco Santander S.A. lifted its holdings in Visa by 2.6% during the third quarter. Banco Santander S.A. now owns 210,360 shares of the credit-card processor’s stock valued at $57,838,000 after purchasing an additional 5,394 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

V has been the topic of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $321.00 price target (up from $318.00) on shares of Visa in a research note on Wednesday, October 30th. TD Cowen boosted their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Bank of America increased their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $310.23 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a one year low of $251.61 and a one year high of $312.44. The company has a market cap of $565.32 billion, a PE ratio of 31.88, a P/E/G ratio of 2.09 and a beta of 0.95. The business has a 50-day simple moving average of $289.07 and a 200-day simple moving average of $277.08.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

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.