Peapack Gladstone Financial Corp Has $80.71 Million Stock Holdings in Visa Inc. (NYSE:V)

Peapack Gladstone Financial Corp boosted its stake in shares of Visa Inc. (NYSE:V) by 0.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 255,386 shares of the credit-card processor’s stock after buying an additional 720 shares during the period. Visa makes up approximately 1.2% of Peapack Gladstone Financial Corp’s holdings, making the stock its 15th biggest holding. Peapack Gladstone Financial Corp’s holdings in Visa were worth $80,713,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of V. Darden Wealth Group Inc raised its holdings in shares of Visa by 4.0% during the fourth quarter. Darden Wealth Group Inc now owns 1,441 shares of the credit-card processor’s stock worth $455,000 after acquiring an additional 55 shares during the period. Yahav Achim Ve Achayot Provident Funds Management Co Ltd. bought a new position in Visa during the 4th quarter worth about $859,000. Quadrant Capital Group LLC raised its stake in shares of Visa by 4.6% in the 4th quarter. Quadrant Capital Group LLC now owns 17,797 shares of the credit-card processor’s stock valued at $5,624,000 after purchasing an additional 784 shares during the period. Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of Visa by 52.2% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 317,960 shares of the credit-card processor’s stock valued at $100,488,000 after purchasing an additional 109,000 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Visa by 8.0% during the fourth quarter. Russell Investments Group Ltd. now owns 1,580,091 shares of the credit-card processor’s stock worth $499,257,000 after buying an additional 117,463 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V opened at $313.46 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day simple moving average of $345.02 and a 200 day simple moving average of $317.07. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a market capitalization of $582.34 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last announced 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 net margin of 54.27% and a return on equity of 54.79%. Research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued 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 0.75%. Visa’s dividend payout ratio is presently 23.79%.

Analysts Set New Price Targets

V has been the topic of several research reports. Bank of America boosted 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. Citigroup reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Susquehanna reiterated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Morgan Stanley raised their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $355.84.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This represents a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,205 shares of company stock valued at $48,842,490. 0.13% of the stock is currently owned by company 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.