Visa Inc. $V Shares Sold by ANB Bank

ANB Bank lessened its stake in Visa Inc. (NYSE:V) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,544 shares of the credit-card processor’s stock after selling 1,236 shares during the period. Visa accounts for 3.0% of ANB Bank’s portfolio, making the stock its 6th largest holding. ANB Bank’s holdings in Visa were worth $6,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Kingsman Wealth Management Inc. acquired a new position in shares of Visa in the first quarter valued at approximately $1,935,000. Capital & Planning LLC boosted its stake in Visa by 25.1% in the 1st quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock worth $416,000 after purchasing an additional 238 shares during the period. Finally, Private Advisor Group LLC grew its holdings in shares of Visa by 1.7% during the first quarter. Private Advisor Group LLC now owns 177,390 shares of the credit-card processor’s stock worth $62,168,000 after buying an additional 2,968 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. KeyCorp reissued an “overweight” rating and set a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Morgan Stanley set a $398.00 price objective on Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Down 1.8%

Shares of NYSE:V opened at $329.89 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The business’s 50 day simple moving average is $342.16 and its two-hundred day simple moving average is $348.69. The firm has a market cap of $604.63 billion, a P/E ratio of 32.31, a PEG ratio of 2.00 and a beta of 0.87.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is currently 26.25%.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 23,897 shares of company stock worth $8,164,561. Insiders own 0.13% of the company’s stock.

Visa Company 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.