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

Visa logo with Business Services background

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.

Check Out Our Latest Research Report on Visa

Visa Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Visa (NYSE:V)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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