Visa Inc. $V is Thomasville National Bank's 9th Largest Position

Key Points

• Thomasville National Bank has reduced its holdings in Visa Inc. by 2.7%, making it the bank's 9th largest position, with a total value of approximately $40 million.
• Visa reported a quarterly earnings per share (EPS) of $2.98, surpassing analysts' estimates of $2.85, along with a revenue of $10.17 billion.
• Several institutional investors increased their positions in Visa, with Vanguard Group now owning over $56 billion worth of shares after a 1.1% rise in their holdings.

Thomasville National Bank cut its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,833 shares of the credit-card processor's stock after selling 3,130 shares during the quarter. Visa accounts for 2.7% of Thomasville National Bank's portfolio, making the stock its 9th largest position. Thomasville National Bank's holdings in Visa were worth $40,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp grew its holdings in Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after purchasing an additional 726,299 shares during the last quarter. GAMMA Investing LLC grew its holdings in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

Shares of NYSE:V opened at $342.07 on Friday. The business has a fifty day moving average of $345.70 and a 200-day moving average of $346.37. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $626.94 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.27 and a beta of 0.92. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company's revenue was up 14.3% on a year-over-year basis. During the same period last year, the company earned $2.42 earnings per share. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated 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 directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $385.96.

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.

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