Visa Inc. (NYSE:V) Shares Bought by Mechanics Financial Corp

Mechanics Financial Corp grew its stake in Visa Inc. (NYSE:V) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,941 shares of the credit-card processor’s stock after purchasing an additional 155 shares during the period. Visa makes up approximately 0.8% of Mechanics Financial Corp’s portfolio, making the stock its 25th biggest holding. Mechanics Financial Corp’s holdings in Visa were worth $1,908,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of V. POM Investment Strategies LLC boosted its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Visa in the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC increased its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa in the second quarter valued at about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Stock Performance

NYSE:V opened at $309.64 on Friday. The firm has a 50-day moving average of $287.04 and a two-hundred day moving average of $275.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The stock has a market cap of $564.26 billion, a P/E ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95. Visa Inc. has a 1-year low of $245.60 and a 1-year high of $312.44.

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

Visa Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

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.