Canandaigua National Bank & Trust Co. Buys 666 Shares of Visa Inc. $V

Canandaigua National Bank & Trust Co. boosted its stake in shares of Visa Inc. (NYSE:V) by 8.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,805 shares of the credit-card processor’s stock after purchasing an additional 666 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Visa were worth $3,126,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter valued at about $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the 1st quarter valued at about $27,000. 1 North Wealth Services LLC bought a new position in Visa in the first quarter worth approximately $38,000. Anderson Financial Strategies LLC bought a new position in Visa in the first quarter worth approximately $53,000. Finally, O Brien Wealth Partners LLC bought a new position in Visa in the first quarter worth approximately $54,000. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, 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. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Citigroup began coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “buy” rating on the stock. Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. UBS Group reaffirmed a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Visa Stock Performance

Shares of NYSE V opened at $339.33 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $621.92 billion, a P/E ratio of 33.14, a P/E/G ratio of 2.26 and a beta of 0.92. The firm’s fifty day moving average is $347.03 and its two-hundred day moving average is $346.86. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. 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 payout ratio is currently 23.05%.

Visa Company 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.