Hemenway Trust Co LLC Acquires 337 Shares of Visa Inc. (NYSE:V)

Hemenway Trust Co LLC increased its holdings in Visa Inc. (NYSE:V) by 16.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,340 shares of the credit-card processor’s stock after purchasing an additional 337 shares during the period. Hemenway Trust Co LLC’s holdings in Visa were worth $740,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Howard Capital Management Group LLC lifted its position in Visa by 0.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after acquiring an additional 610 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Visa by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after purchasing an additional 411,210 shares during the last quarter. Morse Asset Management Inc bought a new stake in Visa during the 3rd quarter valued at approximately $69,000. Texas Capital Bank Wealth Management Services Inc boosted its stake in Visa by 40.3% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 3,947 shares of the credit-card processor’s stock valued at $1,085,000 after purchasing an additional 1,133 shares during the period. Finally, Temasek Holdings Private Ltd grew its holdings in Visa by 2.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 6,221,004 shares of the credit-card processor’s stock valued at $1,710,465,000 after buying an additional 137,967 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V opened at $313.46 on Friday. The stock has a market cap of $582.34 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The stock’s 50-day moving average price is $345.02 and its two-hundred day moving average price is $316.89. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on V shares. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Bank of America boosted their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Morgan Stanley raised their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, UBS Group lifted their price target on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $355.84.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,205 shares of company stock valued at $48,842,490. 0.13% of the stock is owned by insiders.

Visa 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.