Visa Inc. (NYSE:V) Stake Reduced by M&T Bank Corp

M&T Bank Corp cut its stake in Visa Inc. (NYSE:V - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,387 shares of the credit-card processor's stock after selling 6,099 shares during the period. M&T Bank Corp's holdings in Visa were worth $109,129,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in V. von Borstel & Associates Inc. acquired a new stake in Visa in the 1st quarter valued at approximately $27,000. Sellwood Investment Partners LLC bought a new position in shares of Visa in the fourth quarter worth $41,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Visa during the fourth quarter valued at $47,000. Measured Risk Portfolios Inc. bought a new stake in shares of Visa during the fourth quarter valued at about $47,000. Finally, Navigoe LLC bought a new stake in shares of Visa during the fourth quarter valued at about $53,000. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.7%

Visa stock opened at $356.90 on Thursday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $658.54 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 2.40 and a beta of 0.92. The company has a 50 day moving average price of $356.66 and a 200 day moving average price of $342.11.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the 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 completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock valued at $36,771,200 in the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on V. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Truist Financial assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Barclays reissued an "overweight" rating on shares of Visa in a report on Friday, June 13th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Macquarie lowered their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $372.84.

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.

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