Heritage Trust Co Invests $12.31 Million in Visa Inc. (NYSE:V)

Heritage Trust Co purchased a new stake in Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 38,957 shares of the credit-card processor's stock, valued at approximately $12,312,000. Visa accounts for 1.4% of Heritage Trust Co's portfolio, making the stock its 15th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oak Associates Ltd. OH boosted its holdings in shares of Visa by 15.0% in the 4th quarter. Oak Associates Ltd. OH now owns 147,115 shares of the credit-card processor's stock worth $46,494,000 after acquiring an additional 19,170 shares in the last quarter. Tandem Wealth Advisors LLC raised its position in Visa by 4.8% in the 4th quarter. Tandem Wealth Advisors LLC now owns 1,091 shares of the credit-card processor's stock valued at $345,000 after purchasing an additional 50 shares during the last quarter. Jaffetilchin Investment Partners LLC increased its stake in shares of Visa by 3.7% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 20,304 shares of the credit-card processor's stock valued at $6,417,000 after buying an additional 729 shares in the last quarter. Solano Wealth Investment Advisors LLC bought a new position in shares of Visa in the fourth quarter valued at about $412,000. Finally, Texas Capital Bank Wealth Management Services Inc lifted its position in Visa by 5.8% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 4,177 shares of the credit-card processor's stock worth $1,320,000 after buying an additional 230 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Bank of America lifted their target price on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday, March 21st. Finally, Barclays lifted their price objective on Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $355.84.

Visa Stock Up 0.8 %

V stock traded up $2.63 during mid-day trading on Tuesday, hitting $337.81. 1,884,141 shares of the company were exchanged, compared to its average volume of 7,244,414. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The firm's 50 day simple moving average is $342.12 and its 200 day simple moving average is $319.51. The firm has a market cap of $627.58 billion, a P/E ratio of 34.05, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. Visa's dividend payout ratio is currently 23.79%.

Insider Buying and Selling

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares of the company's stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % 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 hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $2,930,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,205 shares of company stock worth $48,842,490. 0.13% of the stock is owned by corporate insiders.

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.