Ledyard National Bank Increased Visa INC (NYSE:V) by $4.84 Million as Shares Rose


Ledyard National Bank increased its stake in Visa Inc (NYSE:V) by 1646.51% based on its latest 2016Q2 regulatory filing with the SEC. Ledyard National Bank bought 63,720 shares as the company’s stock rose 1.03% with the market. The institutional investor held 67,590 shares of the business services company at the end of 2016Q2, valued at $5.17 million, up from 3,870 at the end of the previous reported quarter. Ledyard National Bank who had been investing in Visa Inc for a number of months, seems to be bullish on the $197.54B market cap company. The stock is down 1.14% or $0.95 hitting $82.02, despite the positive news. About 5.05 million shares traded hands. Visa Inc (NYSE:V) has risen 22.43% since February 8, 2016 and is uptrending. It has outperformed by 5.94% the S&P500.

Ledyard National Bank, which manages about $562.92M US Long portfolio, decreased its stake in Kellogg Co (NYSE:K) by 41,315 shares to 7,295 shares, valued at $559,000 in 2016Q2, according to the filing. It also reduced its holding in American International Group Inc (NYSE:AIG) by 130,545 shares in the quarter, leaving it with 3,055 shares, and cut its stake in Eaton Corp Plc (NYSE:ETN).

The institutional sentiment decreased to 0.99 in Q2 2016. Its down 0.07, from 1.06 in 2016Q1. The ratio worsened, as 54 funds sold all V shares owned while 562 reduced positions. 108 funds bought stakes while 500 increased positions. They now own 1.67 billion shares or 5.23% less from 1.76 billion shares in 2016Q1.

Cam Group Holding A S holds 12.05% of its portfolio in V for 8.48 million shares. Provident Trust Co owns 2.75 million shares or 11.23% of their US portfolio. Moreover, Windacre Partnership Llc has 11.19% invested in the company for 440,400 shares. The Illinois-based Bluespruce Investments Lp has invested 10.12% in the stock. Cortland Associates Inc Mo, a Missouri-based fund reported 611,676 shares.

Out of 17 analysts covering Visa Inc. (NYSE:V), 14 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 82% are positive. Visa Inc. has been the topic of 24 analyst reports since October 8, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained the stock on July 22 with “Buy” rating. Barclays Capital maintained the shares of V in a report on May 16 with “Overweight” rating.

Visa Inc. is a payments technology company. The company has a market cap of $197.54 billion. The Firm and its subsidiaries, including Visa U.S.A. It has a 40.57 P/E ratio. Inc. , Visa International Service Association (Visa International), Visa Worldwide Pte.

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