Exchange Bank Sells 79 Shares of Visa Inc. $V

by · The Cerbat Gem

Exchange Bank lessened its holdings in Visa Inc. (NYSE:V – Free Report) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,528 shares of the credit-card processor’s stock after selling 79 shares during the period. Exchange Bank’s holdings in Visa were worth $543,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Keystone Global Partners LLC bought a new position in shares of Visa during the 1st quarter worth $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa during the 1st quarter worth $27,000. 1 North Wealth Services LLC bought a new position in shares of Visa during the 1st quarter worth $38,000. Anderson Financial Strategies LLC bought a new position in shares of Visa during the 1st quarter worth $53,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of Visa during the 1st quarter worth $54,000. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on V shares. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Macquarie raised their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley raised their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $385.96.

View Our Latest Stock Report on Visa

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s 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 transaction, 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 SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s 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 transaction, 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. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $339.92 on Wednesday. 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 company has a market cap of $623.00 billion, a PE ratio of 33.20, a P/E/G ratio of 2.26 and a beta of 0.92. The business has a 50-day simple moving average of $346.38 and a two-hundred day simple moving average of $346.64. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same period last year, the business posted $2.42 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts expect 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. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

About Visa

(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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