Glenmede Trust Co. NA Sells 28,293 Shares of Visa Inc. (NYSE:V)

Glenmede Trust Co. NA trimmed its holdings in Visa Inc. (NYSE:VFree Report) by 5.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 460,186 shares of the credit-card processor’s stock after selling 28,293 shares during the quarter. Glenmede Trust Co. NA’s holdings in Visa were worth $105,847,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Hibernia Wealth Partners LLC purchased a new stake in Visa during the 3rd quarter valued at $25,000. Altshuler Shaham Ltd bought a new position in shares of Visa during the 3rd quarter worth $25,000. West Tower Group LLC bought a new position in shares of Visa during the 2nd quarter worth $30,000. Nalls Sherbakoff Group LLC grew its position in shares of Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after buying an additional 120 shares in the last quarter. Finally, Financial Freedom LLC bought a new position in shares of Visa during the 4th quarter worth $32,000. 81.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup upped their price objective on Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. William Blair restated an “outperform” rating on shares of Visa in a research note on Friday, January 26th. Royal Bank of Canada increased their price target on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Susquehanna increased their price target on Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research note on Friday, January 26th. Finally, Mizuho increased their price target on Visa from $243.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.55.

Check Out Our Latest Report on Visa

Insider Activity

In other news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,311 shares of company stock worth $19,333,129. Insiders own 0.19% of the company’s stock.

Visa Price Performance

NYSE V traded up $0.01 on Friday, reaching $282.65. 2,290,627 shares of the stock traded hands, compared to its average volume of 5,333,142. The firm’s fifty day simple moving average is $270.90 and its 200 day simple moving average is $253.30. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The company has a market cap of $519.09 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 1.97 and a beta of 0.97. Visa Inc. has a 12 month low of $208.76 and a 12 month high of $286.13.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. As a group, research analysts predict that Visa Inc. will post 9.9 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Thursday, February 8th. Visa’s payout ratio is currently 23.94%.

Visa Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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