Visa Inc. $V Shares Sold by AMG National Trust Bank

AMG National Trust Bank lessened its holdings in Visa Inc. (NYSE:V) by 4.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,163 shares of the credit-card processor’s stock after selling 774 shares during the period. AMG National Trust Bank’s holdings in Visa were worth $5,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Creekmur Asset Management LLC increased its holdings in Visa by 39.6% in the 2nd quarter. Creekmur Asset Management LLC now owns 4,966 shares of the credit-card processor’s stock worth $1,763,000 after buying an additional 1,408 shares during the period. Amplius Wealth Advisors LLC increased its holdings in Visa by 26.7% in the 2nd quarter. Amplius Wealth Advisors LLC now owns 2,923 shares of the credit-card processor’s stock worth $1,038,000 after buying an additional 616 shares during the period. Mesirow Financial Investment Management Inc. increased its holdings in Visa by 5.2% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 33,629 shares of the credit-card processor’s stock worth $11,944,000 after buying an additional 1,670 shares during the period. Buckhead Capital Management LLC increased its holdings in Visa by 1.4% in the 2nd quarter. Buckhead Capital Management LLC now owns 14,466 shares of the credit-card processor’s stock worth $5,136,000 after buying an additional 197 shares during the period. Finally, Simon Quick Advisors LLC increased its holdings in Visa by 16.6% in the 2nd quarter. Simon Quick Advisors LLC now owns 16,718 shares of the credit-card processor’s stock worth $5,936,000 after buying an additional 2,380 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $341.07 on Friday. The company’s fifty day moving average price is $344.78 and its 200 day moving average price is $348.40. Visa Inc. has a 1 year low of $287.19 and a 1 year high of $375.51. The stock has a market capitalization of $625.11 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the company earned $2.71 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is 23.11%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on V. Truist Financial cut their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Barclays reaffirmed an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. 0.13% of the stock is currently owned by company insiders.

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.