First Bancorp Inc ME Decreases Stock Position in Visa Inc. (NYSE:V)

First Bancorp Inc ME decreased its position in shares of Visa Inc. (NYSE:V) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,255 shares of the credit-card processor’s stock after selling 148 shares during the period. Visa makes up approximately 0.9% of First Bancorp Inc ME’s investment portfolio, making the stock its 23rd biggest position. First Bancorp Inc ME’s holdings in Visa were worth $1,345,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. FMR LLC lifted its holdings in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC grew its position in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Visa by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after acquiring an additional 123,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Visa by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after purchasing an additional 670,590 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of V stock opened at $334.16 on Tuesday. The company’s 50 day moving average is $314.95 and its 200 day moving average is $290.79. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $622.49 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 2.17 and a beta of 0.96. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $335.49.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on V shares. Susquehanna lifted their target price on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a report on Wednesday, December 11th. Robert W. Baird boosted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays raised their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Piper Sandler upped their price target on shares of Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a report on Friday. Finally, Oppenheimer raised their price objective on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $335.52.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction 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 directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

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.