Visa Inc. (NYSE:V) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. lessened its position in Visa Inc. (NYSE:V) by 18.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,408 shares of the credit-card processor’s stock after selling 4,510 shares during the period. Chemung Canal Trust Co.’s holdings in Visa were worth $5,416,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Capital International Investors grew its stake in Visa by 2.7% during the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after buying an additional 596,950 shares during the period. Capital World Investors grew its stake in Visa by 8.0% during the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after buying an additional 1,323,238 shares during the period. Norges Bank purchased a new stake in Visa during the fourth quarter worth approximately $3,895,015,000. Ameriprise Financial Inc. grew its stake in Visa by 2.7% during the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after buying an additional 374,489 shares during the period. Finally, Jennison Associates LLC grew its stake in Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after buying an additional 85,123 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V traded down $4.12 during trading hours on Friday, hitting $262.47. 13,957,270 shares of the company’s stock traded hands, compared to its average volume of 8,762,266. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The company’s fifty day simple moving average is $273.88 and its two-hundred day simple moving average is $273.50. The company has a market cap of $480.04 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the firm posted $2.09 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Wall Street Analysts Forecast Growth

V has been the subject of several analyst reports. Redburn Atlantic restated a “neutral” rating and issued a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. UBS Group upped their target price on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Macquarie upped their target price on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Wedbush upped their target price on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $303.56.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock worth $9,559,382 over the last ninety days. 0.19% of the stock is currently owned by company insiders.

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.