Canandaigua National Bank & Trust Co. Sells 354 Shares of Visa Inc. (NYSE:V)

Canandaigua National Bank & Trust Co. lowered its stake in shares of Visa Inc. (NYSE:V) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,043 shares of the credit-card processor’s stock after selling 354 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Visa were worth $3,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Visa during the fourth quarter worth $3,895,015,000. International Assets Investment Management LLC lifted its position in shares of Visa by 17,418.7% during the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. Capital World Investors lifted its position in shares of Visa by 8.0% during the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Visa by 139.4% during the fourth quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock worth $568,885,000 after purchasing an additional 1,272,211 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.9 %

NYSE V opened at $273.62 on Wednesday. The business’s fifty day simple moving average is $273.97 and its 200-day simple moving average is $272.70. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market cap of $500.43 billion, a PE ratio of 30.57, a P/E/G ratio of 1.86 and a beta of 0.97. Visa Inc. has a 52 week low of $224.98 and a 52 week high of $290.96.

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

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent research reports. Wedbush boosted their target price on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Macquarie boosted their target price on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Citigroup boosted their target price on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. TD Cowen assumed coverage on shares of Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price for the company. Finally, Oppenheimer boosted their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 in the last three months. 0.19% of the stock is owned by corporate insiders.

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.