Piscataqua Savings Bank Reduces Stake in Visa Inc. (NYSE:V)

Piscataqua Savings Bank reduced its position in Visa Inc. (NYSE:V) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,284 shares of the credit-card processor’s stock after selling 133 shares during the period. Visa makes up about 1.6% of Piscataqua Savings Bank’s investment portfolio, making the stock its 15th biggest position. Piscataqua Savings Bank’s holdings in Visa were worth $1,852,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of V. Sulzberger Capital Advisors Inc. lifted its position in shares of Visa by 4.9% in the first quarter. Sulzberger Capital Advisors Inc. now owns 811 shares of the credit-card processor’s stock valued at $284,000 after acquiring an additional 38 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Visa by 1.9% in the first quarter. Gateway Investment Advisers LLC now owns 474,552 shares of the credit-card processor’s stock valued at $166,311,000 after acquiring an additional 9,017 shares in the last quarter. KFG Wealth Management LLC lifted its position in shares of Visa by 3.0% in the first quarter. KFG Wealth Management LLC now owns 1,672 shares of the credit-card processor’s stock valued at $586,000 after acquiring an additional 48 shares in the last quarter. Radnor Capital Management LLC lifted its holdings in Visa by 7.5% in the 1st quarter. Radnor Capital Management LLC now owns 12,205 shares of the credit-card processor’s stock worth $4,277,000 after purchasing an additional 855 shares in the last quarter. Finally, Horizon Wealth Management LLC lifted its holdings in Visa by 17.0% in the 1st quarter. Horizon Wealth Management LLC now owns 1,075 shares of the credit-card processor’s stock worth $377,000 after purchasing an additional 156 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Visa stock opened at $370.44 on Friday. The company has a 50 day moving average price of $345.45 and a 200-day moving average price of $335.50. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $371.00. The company has a market capitalization of $683.52 billion, a PE ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.51 EPS. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $194,807.49. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,162 shares of company stock worth $58,645,479. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

V has been the topic of several research analyst reports. BMO Capital Markets boosted their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Macquarie decreased their target price on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Finally, UBS Group upped their price objective on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.80.

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.