Enterprise Bank & Trust Co Reduces Holdings in Visa Inc. (NYSE:V)

Enterprise Bank & Trust Co trimmed its stake in Visa Inc. (NYSE:V) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,439 shares of the credit-card processor’s stock after selling 718 shares during the period. Visa accounts for about 1.1% of Enterprise Bank & Trust Co’s investment portfolio, making the stock its 25th biggest holding. Enterprise Bank & Trust Co’s holdings in Visa were worth $3,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the 4th quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the 4th quarter worth about $32,000. Frank Rimerman Advisors LLC bought a new position in shares of Visa in the 4th quarter worth about $33,000. Valued Wealth Advisors LLC bought a new position in shares of Visa in the 4th quarter worth about $37,000. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of Visa in the 4th quarter worth about $40,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of V stock opened at $275.20 on Friday. The company has a 50 day moving average price of $273.97 and a 200-day moving average price of $272.88. Visa Inc. has a 52 week low of $225.50 and a 52 week high of $290.96. The firm has a market capitalization of $503.32 billion, a PE ratio of 30.75, a P/E/G ratio of 1.89 and a beta of 0.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 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 analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Macquarie increased their price target on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Royal Bank of Canada increased their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. TD Cowen initiated coverage on shares of Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Finally, Oppenheimer raised their price objective 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. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $303.76.

Visa 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.