Trustmark National Bank Trust Department Decreases Stock Position in Visa Inc. (NYSE:V)

Trustmark National Bank Trust Department reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 54.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,410 shares of the credit-card processor's stock after selling 2,845 shares during the period. Trustmark National Bank Trust Department's holdings in Visa were worth $663,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of V. Arjuna Capital lifted its position in Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor's stock valued at $3,111,000 after buying an additional 96 shares during the period. Custom Index Systems LLC bought a new position in shares of Visa during the third quarter valued at $731,000. Mechanics Bank Trust Department boosted its position in shares of Visa by 8.0% during the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor's stock valued at $8,520,000 after buying an additional 2,410 shares during the last quarter. Chicago Capital LLC grew its stake in shares of Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor's stock worth $111,331,000 after acquiring an additional 20,023 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its holdings in shares of Visa by 9.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor's stock valued at $15,299,000 after buying an additional 4,988 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 0.0 %

V traded down $0.05 on Friday, hitting $309.85. The company had a trading volume of 1,404,354 shares, compared to its average volume of 6,941,769. The stock has a fifty day moving average price of $289.07 and a 200-day moving average price of $277.08. Visa Inc. has a 12-month low of $251.61 and a 12-month high of $312.44. The stock has a market capitalization of $564.64 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.09 and a beta of 0.95. 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 (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts' consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. Analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on V shares. Morgan Stanley boosted their price objective on shares of Visa from $322.00 to $326.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Visa from $290.00 to $320.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. Royal Bank of Canada raised their price objective on Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Visa from a "hold" rating to a "buy" rating in a report on Friday, August 9th. Finally, Susquehanna raised their price objective on shares of Visa from $326.00 to $339.00 and gave the company a "positive" rating in a research report on Wednesday, October 30th. Four equities research 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 MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and an average target price of $321.74.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company's stock.

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.