City State Bank Trims Stock Holdings in Visa Inc. (NYSE:V)

City State Bank lowered its position in Visa Inc. (NYSE:V) by 4.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,067 shares of the credit-card processor’s stock after selling 104 shares during the period. City State Bank’s holdings in Visa were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in shares of Visa during the third quarter worth approximately $26,000. Modus Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth approximately $32,000. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth approximately $31,000. West Financial Advisors LLC raised its stake in shares of Visa by 101.4% during the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares during the last quarter. Finally, Fairway Wealth LLC purchased a new stake in shares of Visa during the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on V. Barclays upped their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Mizuho upped their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. TD Cowen upped their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $330.85.

Visa Trading Down 0.8 %

NYSE V traded down $2.49 during trading hours on Monday, hitting $305.22. 1,278,874 shares of the company’s stock were exchanged, compared to its average volume of 4,858,976. The business’s 50 day moving average is $312.14 and its 200-day moving average is $287.04. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The firm has a market capitalization of $568.59 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 earnings per share. As a group, analysts anticipate that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 24.25%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Company 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.