CNB Bank Buys 168 Shares of Visa Inc. (NYSE:V)

CNB Bank raised its stake in Visa Inc. (NYSE:V) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,822 shares of the credit-card processor’s stock after acquiring an additional 168 shares during the period. Visa makes up 1.6% of CNB Bank’s portfolio, making the stock its 13th largest holding. CNB Bank’s holdings in Visa were worth $3,420,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Benjamin Edwards Inc. boosted its stake in shares of Visa by 3.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 4,236 shares of the credit-card processor’s stock worth $1,112,000 after purchasing an additional 153 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Visa by 5.5% during the 2nd quarter. Pacer Advisors Inc. now owns 148,785 shares of the credit-card processor’s stock worth $39,052,000 after purchasing an additional 7,807 shares during the period. Sei Investments Co. boosted its stake in shares of Visa by 3.5% during the 2nd quarter. Sei Investments Co. now owns 1,665,218 shares of the credit-card processor’s stock worth $437,060,000 after purchasing an additional 57,034 shares during the period. Blue Whale Capital LLP boosted its stake in shares of Visa by 4.6% during the 2nd quarter. Blue Whale Capital LLP now owns 203,400 shares of the credit-card processor’s stock worth $53,386,000 after purchasing an additional 8,900 shares during the period. Finally, Thames Capital Management LLC boosted its stake in shares of Visa by 3.2% during the 2nd quarter. Thames Capital Management LLC now owns 49,469 shares of the credit-card processor’s stock worth $12,984,000 after purchasing an additional 1,548 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on 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 in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on V shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Barclays lifted their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. TD Cowen lifted their price objective on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $331.92.

Visa Stock Up 0.9 %

NYSE:V opened at $319.97 on Friday. The company has a market cap of $596.06 billion, a PE ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $313.41 and its two-hundred day moving average is $288.45.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. Analysts anticipate that Visa Inc. will post 11.22 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is 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.