Mechanics Bank Trust Department Boosts Holdings in Visa Inc. (NYSE:V)

Mechanics Bank Trust Department raised its holdings in Visa Inc. (NYSE:V) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,050 shares of the credit-card processor’s stock after purchasing an additional 382 shares during the period. Visa comprises approximately 1.2% of Mechanics Bank Trust Department’s holdings, making the stock its 24th largest holding. Mechanics Bank Trust Department’s holdings in Visa were worth $8,386,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new stake in Visa in the 4th quarter valued at approximately $25,000. Westend Capital Management LLC bought a new stake in shares of Visa in the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the 4th quarter valued at $32,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa in the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC purchased a new stake in Visa in the 4th quarter worth about $37,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on V shares. Piper Sandler started coverage on Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target on the stock. Macquarie upped their target price on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Oppenheimer increased their target price on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. TD Cowen began coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, Robert W. Baird boosted their price target on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $303.56.

Visa Price Performance

Shares of V opened at $273.66 on Wednesday. Visa Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The firm’s 50-day simple moving average is $274.11 and its two-hundred day simple moving average is $273.41. The stock has a market cap of $500.51 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (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 for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the prior year, the business earned $2.09 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a dividend of $0.52 per share. 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 (DPR) is presently 23.24%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,200 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’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 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 legal filing with the SEC, which is available at this link. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were 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 directly owns 2,591 shares of the company’s stock, valued at $713,950.05. 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 currently owned by corporate insiders.

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.