Norway Savings Bank Sells 362 Shares of Visa Inc. (NYSE:V)

Norway Savings Bank reduced its stake in Visa Inc. (NYSE:V) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,070 shares of the credit-card processor’s stock after selling 362 shares during the quarter. Norway Savings Bank’s holdings in Visa were worth $970,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. Peterson Financial Group Inc. purchased a new position in Visa in the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC purchased a new position in Visa in the 3rd quarter worth about $31,000. Modus Advisors LLC bought a new position in Visa during the 4th quarter valued at about $32,000. Fairway Wealth LLC purchased a new position in shares of Visa during the second quarter valued at approximately $39,000. Finally, West Financial Advisors LLC raised its holdings in shares of Visa by 101.4% during the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on V. Oppenheimer boosted their price target on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Susquehanna raised their price objective on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a research note on Wednesday, December 11th. Morgan Stanley boosted their price objective on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $329.70.

Insider Buying and Selling at Visa

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

Visa Price Performance

Shares of NYSE V traded down $0.97 during mid-day trading on Tuesday, hitting $312.07. 3,001,038 shares of the company’s stock traded hands, compared to its average volume of 4,762,601. The company has a market capitalization of $581.35 billion, a P/E ratio of 32.07, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. 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 company’s 50-day moving average is $310.30 and its two-hundred day moving average is $286.01.

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

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

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.