Pioneer Trust Bank N A OR Sells 918 Shares of Visa Inc. $V

Pioneer Trust Bank N A OR lessened its stake in shares of Visa Inc. (NYSE:V) by 3.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 27,755 shares of the credit-card processor’s stock after selling 918 shares during the quarter. Visa makes up about 2.5% of Pioneer Trust Bank N A OR’s portfolio, making the stock its 12th largest position. Pioneer Trust Bank N A OR’s holdings in Visa were worth $9,854,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Keystone Global Partners LLC bought a new stake in shares of Visa in the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the second quarter worth $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa in the second quarter valued at $29,000. Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the period. Finally, Hoese & Co LLP purchased a new position in shares of Visa during the 2nd quarter valued at $36,000. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Macquarie decreased their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Buying and Selling at Visa

In other news, Director Lloyd Carney sold 900 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $697,328.54. Following the transaction, the general counsel directly 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 is available in the SEC filing. Insiders have sold 23,897 shares of company stock worth $8,164,561 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 1.1%

Visa stock opened at $338.67 on Wednesday. The stock has a market cap of $620.72 billion, a P/E ratio of 33.17, a PEG ratio of 2.03 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s fifty day moving average price is $342.94 and its 200-day moving average price is $348.85. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is currently 23.11%.

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.