Visa Inc. (NYSE:V) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Visa Inc. (NYSE:V) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 376,028 shares of the credit-card processor’s stock after selling 21,311 shares during the period. M&T Bank Corp’s holdings in Visa were worth $97,899,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. FMR LLC increased its stake in shares of Visa by 4.7% in the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Visa during the third quarter valued at approximately $358,349,000. The Manufacturers Life Insurance Company boosted its position in shares of Visa by 34.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock worth $903,955,000 after buying an additional 999,167 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Visa by 28.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock worth $916,174,000 after buying an additional 871,439 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.3 %

V stock traded up $0.88 during mid-day trading on Friday, reaching $268.49. 3,862,018 shares of the stock traded hands, compared to its average volume of 6,930,902. Visa Inc. has a 52-week low of $216.14 and a 52-week high of $290.96. The stock’s fifty day moving average is $278.17 and its 200-day moving average is $265.42. The company has a market cap of $493.08 billion, a P/E ratio of 30.00, a P/E/G ratio of 1.84 and a beta of 0.95. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio is 23.24%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on V. Robert W. Baird boosted their price target on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Susquehanna upped their price objective on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Oppenheimer raised their target price on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Citigroup upped their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Mizuho raised their price objective on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $303.00.

Insider Activity at Visa

In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,724 shares of company stock valued at $3,278,698. Company insiders own 0.19% of the company’s stock.

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.