M&T Bank Corp Cuts Holdings in Visa Inc. (NYSE:V)

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

A number of other large investors have also bought and sold shares of the company. von Borstel & Associates Inc. purchased a new position in shares of Visa in the first quarter valued at $27,000. Sellwood Investment Partners LLC purchased a new position in shares of Visa in the fourth quarter valued at $41,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Visa in the fourth quarter valued at $47,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa in the fourth quarter valued at $47,000. Finally, Navigoe LLC purchased a new position in shares of Visa in the fourth quarter valued at $53,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on V. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, UBS Group boosted their target price on Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Five investment 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $372.84.

Visa Stock Performance

Shares of NYSE V traded down $8.17 during midday trading on Friday, hitting $347.71. 7,577,927 shares of the stock traded hands, compared to its average volume of 6,822,520. The firm has a 50-day moving average of $356.93 and a two-hundred day moving average of $342.71. The firm has a market capitalization of $641.58 billion, a P/E ratio of 34.95, a PEG ratio of 2.36 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a one year low of $252.70 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $9.59 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.51 EPS. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio (DPR) is 23.72%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

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.