Orrstown Financial Services Inc. Has $2.78 Million Holdings in Visa Inc. (NYSE:V)

Orrstown Financial Services Inc. lifted its holdings in shares of Visa Inc. (NYSE:V) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,804 shares of the credit-card processor’s stock after purchasing an additional 61 shares during the quarter. Visa accounts for 0.7% of Orrstown Financial Services Inc.’s holdings, making the stock its 20th largest position. Orrstown Financial Services Inc.’s holdings in Visa were worth $2,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allen Capital Group LLC lifted its position in Visa by 3.2% during the fourth quarter. Allen Capital Group LLC now owns 12,531 shares of the credit-card processor’s stock worth $3,960,000 after purchasing an additional 394 shares during the period. Masso Torrence Wealth Management Inc. lifted its holdings in shares of Visa by 2.2% during the 4th quarter. Masso Torrence Wealth Management Inc. now owns 3,700 shares of the credit-card processor’s stock worth $1,169,000 after acquiring an additional 80 shares during the period. Forsta AP Fonden boosted its position in shares of Visa by 4.6% during the 4th quarter. Forsta AP Fonden now owns 457,686 shares of the credit-card processor’s stock worth $144,647,000 after acquiring an additional 20,200 shares in the last quarter. Nvest Financial LLC increased its stake in Visa by 11.4% in the fourth quarter. Nvest Financial LLC now owns 8,666 shares of the credit-card processor’s stock valued at $2,739,000 after acquiring an additional 888 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its position in Visa by 4.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 31,403 shares of the credit-card processor’s stock valued at $10,037,000 after purchasing an additional 1,380 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on V shares. The Goldman Sachs Group raised their target price on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday. TD Cowen lifted their target price on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company lifted their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday. Finally, Piper Sandler increased their price objective on shares of Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $352.27.

Visa Stock Down 0.3 %

Shares of NYSE:V opened at $342.05 on Friday. The business’s 50-day moving average is $317.09 and its 200-day moving average is $292.45. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $351.25. The company has a market capitalization of $637.19 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 2.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. Equities research analysts predict that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.69%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

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.