Visa Inc. (NYSE:V) Shares Purchased by Citizens National Bank Trust Department

Citizens National Bank Trust Department boosted its position in Visa Inc. (NYSE:V) by 3.3% in the third quarter, HoldingsChannel.com reports. The firm owned 22,787 shares of the credit-card processor’s stock after purchasing an additional 736 shares during the quarter. Visa comprises approximately 1.3% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 26th biggest holding. Citizens National Bank Trust Department’s holdings in Visa were worth $6,265,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in V. POM Investment Strategies LLC lifted its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC acquired a new stake in Visa in the third quarter worth approximately $31,000. TruNorth Capital Management LLC lifted its position in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new stake in Visa in the second quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa in the second quarter worth approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Robert W. Baird increased their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Piper Sandler increased their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.4 %

Visa stock opened at $291.85 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The company has a market capitalization of $531.84 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.95 and a beta of 0.95. Visa Inc. has a one year low of $240.97 and a one year high of $296.34. The company’s fifty day moving average price is $281.47 and its two-hundred day moving average price is $273.80.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.33 earnings per share. On average, analysts forecast that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.81%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio is presently 21.38%.

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.