Visa Inc. (NYSE:V) Shares Bought by CNB Bank

CNB Bank boosted its stake in shares of Visa Inc. (NYSE:V) by 1.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,822 shares of the credit-card processor’s stock after acquiring an additional 168 shares during the period. Visa comprises about 1.6% of CNB Bank’s holdings, making the stock its 13th biggest holding. CNB Bank’s holdings in Visa were worth $3,420,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Saxon Interests Inc. raised its position in Visa by 16.4% during the fourth quarter. Saxon Interests Inc. now owns 2,031 shares of the credit-card processor’s stock worth $642,000 after acquiring an additional 286 shares during the period. Avanza Fonder AB acquired a new stake in shares of Visa in the fourth quarter valued at about $40,193,000. Wealthcare Advisory Partners LLC raised its position in shares of Visa by 1.1% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 36,300 shares of the credit-card processor’s stock valued at $11,472,000 after buying an additional 386 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Visa by 4.5% in the fourth quarter. Procyon Advisors LLC now owns 68,681 shares of the credit-card processor’s stock valued at $21,706,000 after buying an additional 2,943 shares during the last quarter. Finally, Yarger Wealth Strategies LLC raised its position in shares of Visa by 14.0% in the fourth quarter. Yarger Wealth Strategies LLC now owns 2,309 shares of the credit-card processor’s stock valued at $730,000 after buying an additional 283 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, Citigroup upped their price objective on shares of Visa from $326.00 to $354.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $331.92.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Stock Performance

NYSE V opened at $319.97 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The company has a market capitalization of $596.06 billion, a PE ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. The company has a fifty day moving average of $313.41 and a two-hundred day moving average of $288.45.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. Visa’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.22 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

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.