ANB Bank Has $5.79 Million Position in Visa Inc. $V

ANB Bank lowered its position in shares of Visa Inc. (NYSE:V) by 8.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,952 shares of the credit-card processor’s stock after selling 1,592 shares during the quarter. Visa comprises approximately 2.3% of ANB Bank’s portfolio, making the stock its 9th biggest position. ANB Bank’s holdings in Visa were worth $5,787,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Visa by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after acquiring an additional 1,461,575 shares during the period. Geode Capital Management LLC increased its stake in shares of Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Norges Bank purchased a new position in shares of Visa during the second quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. boosted its position in shares of Visa by 14.6% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Visa by 1.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after purchasing an additional 145,665 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a research note on Thursday, December 11th. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price target on shares of Visa in a research note on Wednesday, October 29th. Finally, Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $402.52.

Visa Price Performance

NYSE V opened at $352.08 on Friday. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The stock has a 50-day moving average of $339.91 and a 200 day moving average of $344.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $641.40 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 2.09 and a beta of 0.81.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the firm posted $2.71 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were issued a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date was Wednesday, November 12th. Visa’s dividend payout ratio is 26.25%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the transaction, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. This trade represents a 52.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. The trade was a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 24,042 shares of company stock valued at $8,247,289. Company insiders own 0.12% of the company’s stock.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.