Commerce Bank Sells 10,889 Shares of Visa Inc. $V

Commerce Bank cut its holdings in Visa Inc. (NYSE:V) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 684,312 shares of the credit-card processor’s stock after selling 10,889 shares during the quarter. Visa accounts for 1.0% of Commerce Bank’s investment portfolio, making the stock its 17th largest holding. Commerce Bank’s holdings in Visa were worth $234,781,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. XXEC Inc. increased its stake in shares of Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after acquiring an additional 186,138,883 shares in the last quarter. Vanguard Group Inc. boosted its stake in Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares in the last quarter. State Street Corp boosted its stake in Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after acquiring an additional 626,821 shares in the last quarter. Geode Capital Management LLC grew its holdings in Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after purchasing an additional 388,996 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after purchasing an additional 716,218 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $430.00 price target on shares of Visa in a research note on Wednesday, July 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $412.00 target price (up from $395.00) on shares of Visa in a research note on Wednesday, July 29th. Cantor Fitzgerald set a $445.00 target price on Visa and gave the company an “overweight” rating in a research report on Monday, August 3rd. Robert W. Baird upped their price target on Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $413.58.

Insider Activity at Visa

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the transaction, the insider owned 49,662 shares in the company, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 20,970 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $340.25, for a total value of $7,135,042.50. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,162,953.50. This represents a 58.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of V stock opened at $371.09 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $353.73 and a two-hundred day simple moving average of $329.64. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97. The firm has a market capitalization of $662.18 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm earned $2.98 earnings per share. Analysts forecast that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 11th. Visa’s dividend payout ratio is currently 22.79%.

Visa announced that its board has approved a share repurchase plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.