Visa Inc. (NYSE:V) Position Decreased by Commerce Bank

Key Points

• Commerce Bank reduced its stake in Visa Inc. by 1.0%, retaining 657,943 shares, making Visa its 10th largest investment at a valuation of $230.6 million.
• Visa announced a quarterly dividend of $0.59 per share, reflecting a 0.7% annual yield, to be paid on September 2nd to stockholders of record.
• Visa's recent earnings surpassed expectations, with a report of $2.98 earnings per share and revenue of $10.17 billion, indicating a 14.3% year-over-year increase.

Commerce Bank cut its stake in Visa Inc. (NYSE:V - Free Report) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 657,943 shares of the credit-card processor's stock after selling 6,685 shares during the period. Visa accounts for about 1.5% of Commerce Bank's portfolio, making the stock its 10th largest position. Commerce Bank's holdings in Visa were worth $230,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Lakeridge Wealth Management LLC increased its holdings in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC purchased a new position in shares of Visa during the 4th quarter valued at approximately $306,000. Aptus Capital Advisors LLC increased its holdings in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after purchasing an additional 30,185 shares in the last quarter. Eagle Strategies LLC increased its holdings in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in shares of Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock valued at $192,948,000 after purchasing an additional 43,546 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 1.9%

Shares of V stock traded down $6.66 on Friday, hitting $338.81. 8,655,366 shares of the stock traded hands, compared to its average volume of 5,746,410. The firm's 50-day moving average price is $355.06 and its two-hundred day moving average price is $346.34. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.12. The stock has a market capitalization of $625.16 billion, a PE ratio of 33.09, a PEG ratio of 2.30 and a beta of 0.94. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51.

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

Visa Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on V. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday. The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. BMO Capital Markets boosted their price target on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Finally, Morgan Stanley boosted their price target on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $380.84.

Insider Transactions at Visa

In other Visa news, 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider owned 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,913 shares of company stock worth $32,902,432 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.