Visa Inc. (NYSE:V) Shares Sold by Field & Main Bank

Field & Main Bank decreased its position in Visa Inc. (NYSE:V) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,821 shares of the credit-card processor’s stock after selling 61 shares during the quarter. Visa accounts for approximately 1.6% of Field & Main Bank’s holdings, making the stock its 14th largest position. Field & Main Bank’s holdings in Visa were worth $4,625,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Kerusso Capital Management LLC boosted its position in Visa by 6.4% during the 3rd quarter. Kerusso Capital Management LLC now owns 10,146 shares of the credit-card processor’s stock valued at $2,790,000 after purchasing an additional 611 shares during the period. Oxbow Advisors LLC boosted its position in Visa by 0.8% during the 3rd quarter. Oxbow Advisors LLC now owns 41,173 shares of the credit-card processor’s stock valued at $11,321,000 after purchasing an additional 330 shares during the period. Acorn Financial Advisory Services Inc. ADV boosted its position in Visa by 3.6% during the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,243 shares of the credit-card processor’s stock valued at $617,000 after purchasing an additional 78 shares during the period. Objective Capital Management LLC bought a new stake in Visa during the 3rd quarter valued at $210,000. Finally, TCTC Holdings LLC raised its stake in Visa by 3.9% during the 3rd quarter. TCTC Holdings LLC now owns 29,363 shares of the credit-card processor’s stock valued at $8,073,000 after acquiring an additional 1,113 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on V shares. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Stock Performance

Shares of V stock opened at $307.87 on Friday. The stock’s fifty day simple moving average is $283.95 and its 200-day simple moving average is $274.67. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1-year low of $240.97 and a 1-year high of $311.15. The company has a market capitalization of $561.03 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $2.33 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 21.38%.

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.