Webster Bank N. A. Sells 760 Shares of Visa Inc. $V

Key Points

• Webster Bank N. A. has reduced its stake in Visa Inc. by 2.0% in the second quarter, now holding 38,212 shares valued at approximately $13.57 million.
• Insider transactions included CEO Ryan Mcinerney selling 8,630 shares for over $3 million, reducing his position by 94.14%.
• Visa recently reported earnings that surpassed analyst expectations, showing a revenue increase of 14.3% year-over-year and an EPS of $2.98, compared to a forecast of $2.85.

Webster Bank N. A. reduced its position in Visa Inc. (NYSE:V - Free Report) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,212 shares of the credit-card processor's stock after selling 760 shares during the quarter. Visa makes up 1.4% of Webster Bank N. A.'s portfolio, making the stock its 15th largest holding. Webster Bank N. A.'s holdings in Visa were worth $13,567,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Richard P Slaughter Associates Inc raised its stake in Visa by 16.4% during the second quarter. Richard P Slaughter Associates Inc now owns 4,397 shares of the credit-card processor's stock worth $1,561,000 after acquiring an additional 619 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its holdings in Visa by 8.2% in the second quarter. Canandaigua National Bank & Trust Co. now owns 8,805 shares of the credit-card processor's stock valued at $3,126,000 after acquiring an additional 666 shares during the last quarter. RMR Wealth Builders boosted its holdings in Visa by 1.7% in the second quarter. RMR Wealth Builders now owns 17,524 shares of the credit-card processor's stock valued at $6,222,000 after acquiring an additional 290 shares during the last quarter. 21 West Wealth Management LLC bought a new position in Visa in the second quarter valued at about $357,000. Finally, Goldstone Financial Group LLC boosted its holdings in Visa by 33.4% in the second quarter. Goldstone Financial Group LLC now owns 1,946 shares of the credit-card processor's stock valued at $698,000 after acquiring an additional 487 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. UBS Group reiterated a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays restated an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Finally, Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average price target of $385.96.

Visa Trading Down 1.2%

NYSE:V opened at $339.33 on Monday. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $621.92 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. The business's 50-day simple moving average is $347.03 and its 200-day simple moving average is $346.86.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the business posted $2.42 EPS. Visa's revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is 23.05%.

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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