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

Canandaigua National Bank & Trust Co. lessened its holdings in shares of Visa Inc. (NYSE:V) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,233 shares of the credit-card processor’s stock after selling 189 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Visa were worth $2,918,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Unionview LLC grew its stake in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the last quarter. FWG Holdings LLC lifted its position in shares of Visa by 1.1% during the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after purchasing an additional 34 shares during the last quarter. St. Louis Trust Co grew its position in Visa by 0.9% in the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after purchasing an additional 34 shares during the last quarter. Menard Financial Group LLC grew its holdings in shares of Visa by 0.6% during the 3rd quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock worth $1,709,000 after purchasing an additional 35 shares in the last quarter. Finally, KMG Fiduciary Partners LLC raised its position in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

V has been the subject of a number of research reports. Oppenheimer raised their price target on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Finally, BMO Capital Markets increased their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $329.70.

Visa Price Performance

Visa stock traded down $2.07 during midday trading on Monday, reaching $312.84. The company had a trading volume of 6,550,267 shares, compared to its average volume of 4,887,388. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The company has a market capitalization of $582.78 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s fifty day simple moving average is $309.73 and its 200-day simple moving average is $285.76.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.33 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is presently 24.25%.

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.