Visa Inc. (NYSE:V) Shares Sold by ANB Bank

ANB Bank cut its stake in Visa Inc. (NYSE:V - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,780 shares of the credit-card processor's stock after selling 728 shares during the quarter. Visa comprises about 3.1% of ANB Bank's portfolio, making the stock its 7th biggest position. ANB Bank's holdings in Visa were worth $6,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in V. von Borstel & Associates Inc. purchased a new position in Visa during the 1st quarter valued at about $27,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa during the fourth quarter worth approximately $47,000. Navigoe LLC acquired a new stake in shares of Visa during the fourth quarter worth about $53,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the first quarter worth approximately $54,000. Finally, Hurley Capital LLC acquired a new stake in shares of Visa in the 4th quarter worth $56,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. 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 research note on Thursday, July 17th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. BMO Capital Markets increased their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Finally, UBS Group boosted their target price on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Five investment 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $375.52.

Visa Price Performance

V stock traded up $2.96 during mid-day trading on Friday, reaching $356.93. 3,915,274 shares of the company's stock were exchanged, compared to its average volume of 5,404,370. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market cap of $658.60 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.39 and a beta of 0.92. The stock's 50 day moving average is $356.30 and its 200 day moving average is $345.00. Visa Inc. has a 12-month low of $254.51 and a 12-month high of $375.51.

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

Visa Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 23.72%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $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 accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 in 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.