Mechanics Financial Corp Reduces Holdings in Visa Inc. (NYSE:V)

Mechanics Financial Corp reduced its stake in Visa Inc. (NYSE:V) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,911 shares of the credit-card processor’s stock after selling 30 shares during the period. Visa comprises 1.0% of Mechanics Financial Corp’s investment portfolio, making the stock its 19th largest position. Mechanics Financial Corp’s holdings in Visa were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Decker Retirement Planning Inc. purchased a new stake in Visa in the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Visa in the 4th quarter worth about $27,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares in the last quarter. Modus Advisors LLC bought a new position in Visa in the fourth quarter worth about $32,000. Finally, Compass Planning Associates Inc purchased a new stake in Visa in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on V. JPMorgan Chase & Co. upped their target price on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday, March 21st. UBS Group boosted their price objective on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $355.84.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is owned by insiders.

Visa Price Performance

Shares of V opened at $342.62 on Friday. The firm has a fifty day simple moving average of $343.60 and a two-hundred day simple moving average of $315.06. The firm has a market cap of $636.51 billion, a PE ratio of 34.54, a P/E/G ratio of 2.33 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

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.