Visa Inc. (NYSE:V) Stock Position Decreased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,064 shares of the credit-card processor's stock after selling 1,126 shares during the period. Visa makes up approximately 2.3% of Penobscot Investment Management Company Inc.'s portfolio, making the stock its 6th biggest holding. Penobscot Investment Management Company Inc.'s holdings in Visa were worth $24,905,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lakeridge Wealth Management LLC lifted its stake in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC bought a new position in shares of Visa during the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC increased its position 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 during the last quarter. King Wealth Management Group raised its holdings in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after buying an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC lifted its position in Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after buying an additional 63 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on V shares. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Macquarie decreased their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, 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 research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $372.80.

Visa Trading Up 0.9%

V stock traded up $3.10 on Friday, reaching $349.13. The company's stock had a trading volume of 6,588,465 shares, compared to its average volume of 6,921,649. The firm has a market cap of $644.20 billion, a PE ratio of 35.09, a PEG ratio of 2.32 and a beta of 0.94. The business has a fifty day simple moving average of $352.91 and a two-hundred day simple moving average of $339.57. Visa Inc. has a 12-month low of $252.70 and a 12-month 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.

Visa (NYSE:V - Get Free Report) last posted 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 firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $2.51 EPS. As a group, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $185,576.46. This represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company's stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,098 shares of company stock worth $36,738,526. Company 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.