Cape ANN Savings Bank Increases Holdings in Visa Inc. (NYSE:V)

Cape ANN Savings Bank grew its holdings in Visa Inc. (NYSE:V) by 1.1% during the fourth quarter, HoldingsChannel reports. The fund owned 7,379 shares of the credit-card processor’s stock after purchasing an additional 81 shares during the period. Visa accounts for about 1.3% of Cape ANN Savings Bank’s investment portfolio, making the stock its 21st biggest holding. Cape ANN Savings Bank’s holdings in Visa were worth $2,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Financial Engines Advisors L.L.C. raised its holdings in shares of Visa by 2.8% in the third quarter. Financial Engines Advisors L.L.C. now owns 1,747 shares of the credit-card processor’s stock valued at $402,000 after buying an additional 48 shares during the last quarter. Alcosta Capital Management Inc. increased its holdings in shares of Visa by 0.3% in the third quarter. Alcosta Capital Management Inc. now owns 14,171 shares of the credit-card processor’s stock valued at $3,259,000 after purchasing an additional 45 shares during the period. Meridian Wealth Advisors LLC raised its stake in shares of Visa by 1.6% during the third quarter. Meridian Wealth Advisors LLC now owns 23,286 shares of the credit-card processor’s stock worth $5,356,000 after purchasing an additional 358 shares during the last quarter. Sargent Investment Group LLC raised its position in Visa by 3.8% during the 3rd quarter. Sargent Investment Group LLC now owns 3,252 shares of the credit-card processor’s stock worth $748,000 after buying an additional 119 shares during the last quarter. Finally, Intact Investment Management Inc. lifted its stake in shares of Visa by 18.5% in the 3rd quarter. Intact Investment Management Inc. now owns 4,800 shares of the credit-card processor’s stock worth $1,104,000 after acquiring an additional 750 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on V. Robert W. Baird boosted their price target on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 17th. TD Cowen began coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Wells Fargo & Company raised their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Evercore ISI upped their price objective on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Finally, UBS Group increased their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $303.76.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on 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 $150,833.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction 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 transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders have sold 34,402 shares of company stock valued at $9,559,382 in the last ninety days. Insiders own 0.19% of the company’s stock.

Visa Trading Up 0.2 %

Shares of Visa stock opened at $271.13 on Tuesday. The business has a 50 day moving average price of $274.04 and a 200 day moving average price of $272.58. The company has a market capitalization of $495.88 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. Visa Inc. has a 1 year low of $224.98 and a 1 year high of $290.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s dividend payout ratio (DPR) is 23.24%.

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.