AMG National Trust Bank Increases Stake in Visa Inc. (NYSE:V)

AMG National Trust Bank boosted its position in shares of Visa Inc. (NYSE:V) by 0.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,937 shares of the credit-card processor’s stock after purchasing an additional 46 shares during the quarter. AMG National Trust Bank’s holdings in Visa were worth $5,585,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of V. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter valued at about $27,000. Sellwood Investment Partners LLC purchased a new stake in shares of Visa during the 4th quarter valued at about $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Visa during the 4th quarter valued at about $47,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the 4th quarter valued at about $47,000. Finally, Navigoe LLC purchased a new stake in shares of Visa during the 4th quarter valued at about $53,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the topic of several recent research reports. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Macquarie lowered their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets increased their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Finally, Evercore ISI initiated coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $375.52.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last three months. 0.13% of the stock is owned by company insiders.

Visa Trading Down 0.3%

Shares of V opened at $348.90 on Friday. The company’s fifty day moving average is $356.82 and its 200 day moving average is $343.63. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The stock has a market capitalization of $643.78 billion, a PE ratio of 35.07, a P/E/G ratio of 2.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.51 earnings per share. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

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.