Cape ANN Savings Bank Sells 985 Shares of Visa Inc. $V

Cape ANN Savings Bank trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 16.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,887 shares of the credit-card processor's stock after selling 985 shares during the quarter. Visa makes up approximately 1.0% of Cape ANN Savings Bank's investment portfolio, making the stock its 20th biggest holding. Cape ANN Savings Bank's holdings in Visa were worth $1,735,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Northern Trust Corp grew its stake in Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after purchasing an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after buying an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after buying an additional 1,651,954 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Erste Group Bank lowered shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Barclays reaffirmed an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Robert W. Baird set a $410.00 price objective on Visa and gave the stock an "outperform" rating in a research report on Monday. Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average price target of $389.00.

Visa Stock Performance

Shares of V stock opened at $349.21 on Tuesday. The business has a fifty day moving average of $343.65 and a 200 day moving average of $346.89. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $640.03 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the company earned $2.42 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's 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 approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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.

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