Cape ANN Savings Bank Sells 955 Shares of Visa Inc. $V

Key Points

• Cape ANN Savings Bank has decreased its holdings in Visa Inc. by 14%, now owning 5,872 shares worth approximately $2.06 million, making it Visa's 19th largest holding.
• Insider transactions include Paul D. Fabara selling over 11,000 shares for approximately $4.36 million, while CEO Ryan Mcinerney sold 8,630 shares valued at about $3.05 million, indicating significant insider selling activity.
• Despite recent sales, analysts are optimistic about Visa's prospects, with a consensus price target of $380.84 and a majority rating of "Buy" across research firms.

Cape ANN Savings Bank decreased its position in Visa Inc. (NYSE:V - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,872 shares of the credit-card processor's stock after selling 955 shares during the period. Visa comprises approximately 1.3% of Cape ANN Savings Bank's holdings, making the stock its 19th largest holding. Cape ANN Savings Bank's holdings in Visa were worth $2,058,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of V. Keystone Global Partners LLC bought a new position in Visa in the first quarter worth $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa in the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa in the 4th quarter valued at $47,000. Navigoe LLC bought a new position in shares of Visa during the 4th quarter worth about $53,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the 1st quarter valued at about $54,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on V. Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. William Blair reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. BMO Capital Markets increased their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. UBS Group restated a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,127 shares of company stock valued at $28,340,553 over the last ninety days. Insiders own 0.13% of the company's stock.

Visa Stock Down 0.1%

Shares of V opened at $350.72 on Thursday. The company has a market capitalization of $642.80 billion, a P/E ratio of 34.25, a PEG ratio of 2.34 and a beta of 0.94. Visa Inc. has a one year low of $267.67 and a one year high of $375.51. The business's 50 day simple moving average is $347.87 and its 200-day simple moving average is $347.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is 23.05%.

About Visa

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.