CNB Bank Lowers Stock Position in Visa Inc. (NYSE:V)

CNB Bank cut its position in shares of Visa Inc. (NYSE:V - Free Report) by 9.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,769 shares of the credit-card processor's stock after selling 1,053 shares during the period. Visa accounts for 1.7% of CNB Bank's holdings, making the stock its 11th biggest position. CNB Bank's holdings in Visa were worth $3,424,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the fourth quarter worth $27,000. NewSquare Capital LLC acquired a new position in Visa during the fourth quarter worth $35,000. Sellwood Investment Partners LLC acquired a new position in Visa during the fourth quarter worth $41,000. Mountain Hill Investment Partners Corp. acquired a new position in Visa during the fourth quarter worth $47,000. Finally, Measured Risk Portfolios Inc. acquired a new position in Visa during the fourth quarter worth $47,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated 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 now directly owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of Visa 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 sale, the insider now owns 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock worth $36,738,526 over the last three months. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Barclays restated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. UBS Group increased their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Visa Price Performance

Visa stock opened at $349.13 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The stock has a market cap of $644.20 billion, a P/E ratio of 35.09, a PEG ratio of 2.33 and a beta of 0.94. The company has a 50-day moving average price of $353.30 and a 200 day moving average price of $339.83. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa's revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $2.51 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.

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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