Visa Inc. (NYSE:V) Shares Acquired by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida lifted its holdings in Visa Inc. (NYSE:V) by 44.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,625 shares of the credit-card processor’s stock after purchasing an additional 1,120 shares during the quarter. Visa comprises about 0.9% of Canandaigua National Trust Co of Florida’s portfolio, making the stock its 24th biggest position. Canandaigua National Trust Co of Florida’s holdings in Visa were worth $1,146,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Custom Index Systems LLC acquired a new stake in shares of Visa during the third quarter worth about $731,000. Copley Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth approximately $616,000. FORA Capital LLC acquired a new position in Visa during the third quarter worth $7,987,000. Chicago Capital LLC increased its stake in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC boosted its stake in shares of Visa by 5,034.0% in the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after acquiring an additional 55,273 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Susquehanna boosted their price objective on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday, December 11th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Wells Fargo & Company boosted their price target on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Robert W. Baird increased their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $329.70.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 0.7 %

Shares of V stock traded down $2.07 on Monday, reaching $312.84. 6,550,267 shares of the stock were exchanged, compared to its average volume of 4,887,388. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61. The stock has a market cap of $582.78 billion, a P/E ratio of 32.15, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $309.73 and a two-hundred day moving average of $285.76.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. On average, research analysts anticipate that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.