Fulton Bank N.A. Has $10.79 Million Stock Holdings in Visa Inc. $V

Key Points

• Fulton Bank N.A. sold 853 shares of Visa Inc., reducing its stake by 2.7%, now holding valued at approximately $10.79 million.
• Visa recently reported an earnings per share (EPS) of $2.98, exceeding analysts' expectations, with a revenue of $10.17 billion for the quarter.
• Institutional investors and hedge funds own approximately 82.15% of Visa's stock, reflecting significant investor confidence in the company.

Fulton Bank N.A. reduced its position in Visa Inc. (NYSE:V - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,385 shares of the credit-card processor's stock after selling 853 shares during the quarter. Fulton Bank N.A.'s holdings in Visa were worth $10,788,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Brighton Jones LLC lifted its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares during the period. BIP Alliance LLC bought a new position in shares of Visa in the fourth quarter valued at about $392,000. 49 Wealth Management LLC raised its holdings in shares of Visa by 1.7% in the fourth quarter. 49 Wealth Management LLC now owns 3,582 shares of the credit-card processor's stock valued at $1,132,000 after buying an additional 61 shares during the last quarter. Finally, Harmony Asset Management LLC raised its holdings in shares of Visa by 0.7% in the fourth quarter. Harmony Asset Management LLC now owns 19,743 shares of the credit-card processor's stock valued at $6,240,000 after buying an additional 128 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 1.2%

Shares of Visa stock traded up $3.89 during trading on Friday, hitting $342.07. 13,657,860 shares of the company were exchanged, compared to its average volume of 4,986,314. The firm has a market capitalization of $626.94 billion, a P/E ratio of 33.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The firm's fifty day moving average price is $345.70 and its 200 day moving average price is $346.41. 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 earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the prior year, the business earned $2.42 EPS. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is 23.05%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays reaffirmed an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. UBS Group reaffirmed a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. The Goldman Sachs Group assumed coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating for the company. Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at $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.

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.