Bangor Savings Bank Cuts Stake in Visa Inc. $V

Bangor Savings Bank reduced its position in shares of Visa Inc. (NYSE:V) by 3.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,445 shares of the credit-card processor’s stock after selling 231 shares during the quarter. Bangor Savings Bank’s holdings in Visa were worth $2,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. GAMMA Investing LLC raised its holdings in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Nuveen LLC bought a new stake in Visa during the 1st quarter valued at $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Visa during the 4th quarter valued at $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor’s stock valued at $4,210,207,000 after buying an additional 1,723,785 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They set a “neutral” rating for the company. Oppenheimer upped their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Macquarie upped their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $385.96.

Visa Stock Down 1.2%

Shares of Visa stock opened at $339.33 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50-day moving average of $347.03 and a 200 day moving average of $346.92. The firm has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.29 and a beta of 0.92. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business earned $2.42 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% 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 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.