Community Bank N.A. Sells 412 Shares of Visa Inc. $V

Community Bank N.A. reduced its position in Visa Inc. (NYSE:V) by 3.0% in the 2nd quarter, Holdings Channel reports. The firm owned 13,374 shares of the credit-card processor’s stock after selling 412 shares during the quarter. Community Bank N.A.’s holdings in Visa were worth $4,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. GAMMA Investing LLC lifted its position in shares of Visa by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock worth $14,761,000 after buying an additional 3,795 shares during the period. Global X Japan Co. Ltd. bought a new position in shares of Visa during the 1st quarter worth approximately $56,000. Finally, Sterling Investment Counsel LLC lifted its position in shares of Visa by 191.1% during the 1st quarter. Sterling Investment Counsel LLC now owns 12,414 shares of the credit-card processor’s stock worth $4,351,000 after buying an additional 8,150 shares during the period. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target for the company. Oppenheimer lifted their price target on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $389.00.

Visa Stock Performance

V stock opened at $341.90 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50 day moving average price of $344.30 and a 200 day moving average price of $346.83. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51. The stock has a market capitalization of $626.63 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 1.99 and a beta of 0.90.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 earnings per share. Analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

About Visa

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.