FineMark National Bank & Trust Cuts Position in Visa Inc. (NYSE:V)

FineMark National Bank & Trust reduced its position in shares of Visa Inc. (NYSE:V) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,551 shares of the credit-card processor’s stock after selling 408 shares during the period. FineMark National Bank & Trust’s holdings in Visa were worth $16,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC increased its position in Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after buying an additional 610 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after acquiring an additional 411,210 shares during the period. Algert Global LLC purchased a new stake in Visa in the 3rd quarter valued at $1,778,000. Fisher Asset Management LLC boosted its stake in Visa by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 9,584,713 shares of the credit-card processor’s stock worth $2,635,317,000 after purchasing an additional 196,891 shares during the period. Finally, Prosperity Financial Group Inc. grew its position in Visa by 5.2% during the 3rd quarter. Prosperity Financial Group Inc. now owns 4,882 shares of the credit-card processor’s stock worth $1,342,000 after purchasing an additional 242 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup reiterated a “neutral” rating on shares of Visa in a research note on Thursday, February 13th. Oppenheimer reiterated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Barclays raised their target price on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Trading Up 2.5 %

Shares of V stock opened at $343.96 on Tuesday. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a market capitalization of $639.00 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.33 and a beta of 0.95. The firm has a 50-day moving average price of $341.23 and a 200 day moving average price of $313.75. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,560,961 over the last 90 days. 0.13% of the stock is owned by corporate insiders.

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.