Mechanics Financial Corp Has $2.18 Million Stock Position in Visa Inc. (NYSE:V)

Mechanics Financial Corp lessened its stake in shares of Visa Inc. (NYSE:V) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,911 shares of the credit-card processor’s stock after selling 30 shares during the period. Visa comprises 1.0% of Mechanics Financial Corp’s investment portfolio, making the stock its 19th largest holding. Mechanics Financial Corp’s holdings in Visa were worth $2,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Hirtle Callaghan & Co LLC raised its position in Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor’s stock worth $724,000 after purchasing an additional 29 shares during the last quarter. Elevation Wealth Partners LLC raised its position in shares of Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor’s stock worth $297,000 after acquiring an additional 30 shares during the last quarter. Warther Private Wealth LLC lifted its stake in shares of Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor’s stock worth $928,000 after acquiring an additional 30 shares during the period. Valmark Advisers Inc. boosted its holdings in Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor’s stock valued at $2,292,000 after acquiring an additional 30 shares during the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. boosted its holdings in Visa by 0.4% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor’s stock valued at $2,302,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on V shares. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday, March 21st. Raymond James reiterated an “outperform” rating and set a $393.00 price target (up from $374.00) on shares of Visa in a report on Friday, January 31st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Wells Fargo & Company raised their target price on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $355.84.

Visa Trading Down 2.1 %

NYSE V opened at $342.62 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $343.60 and a 200 day simple moving average of $315.06. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The firm has a market capitalization of $636.51 billion, a P/E ratio of 34.54, a PEG ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,991,249.33. The trade was a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares in the company, 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 worth $48,560,961 in the last quarter. 0.13% of the stock is currently owned by company 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.