NBT Bank N A NY Has $6.03 Million Stock Position in Visa Inc. (NYSE:V)

NBT Bank N A NY raised its stake in shares of Visa Inc. (NYSE:V) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,217 shares of the credit-card processor’s stock after buying an additional 309 shares during the period. NBT Bank N A NY’s holdings in Visa were worth $6,034,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Visa during the fourth quarter valued at about $5,171,271,000. GAMMA Investing LLC increased its stake in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Vanguard Group Inc. lifted its position in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Visa in the 4th quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC grew its holdings in Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on V. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Jefferies Financial Group increased their price target on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Citigroup began coverage on shares of Visa in a research report on Monday, June 2nd. They set a “buy” rating for the company. Finally, Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price target on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Visa Stock Performance

Shares of V stock opened at $357.89 on Wednesday. The company’s 50 day moving average price is $351.22 and its two-hundred day moving average price is $338.19. 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 Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a market capitalization of $660.37 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.51 EPS. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock worth $36,738,526 over the last ninety days. 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.