Visa Inc. (NYSE:V) Shares Purchased by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida grew its holdings in Visa Inc. (NYSE:VFree Report) by 44.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,625 shares of the credit-card processor’s stock after purchasing an additional 1,120 shares during the period. Visa makes up 0.9% of Canandaigua National Trust Co of Florida’s portfolio, making the stock its 24th biggest position. Canandaigua National Trust Co of Florida’s holdings in Visa were worth $1,146,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. State Street Corp increased its stake in Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares during the period. FMR LLC grew its holdings in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC increased its position in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Stock Down 0.7 %

Shares of V traded down $2.07 on Monday, reaching $312.84. The company’s stock had a trading volume of 6,550,267 shares, compared to its average volume of 4,887,388. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The stock has a market capitalization of $582.78 billion, a PE ratio of 32.15, a PEG ratio of 2.11 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $309.73 and a 200-day moving average of $285.76.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the business earned $2.33 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Equities analysts predict that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 24.25%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Friday. Bank of America raised their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Royal Bank of Canada boosted their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Macquarie lifted their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird lifted their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $329.70.

View Our Latest Report on V

About Visa

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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