Bangor Savings Bank Has $2.16 Million Stock Holdings in Visa Inc. (NYSE:V)

Bangor Savings Bank trimmed its position in Visa Inc. (NYSE:V) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,826 shares of the credit-card processor’s stock after selling 3,531 shares during the quarter. Bangor Savings Bank’s holdings in Visa were worth $2,157,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC raised its holdings in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC raised its holdings in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after acquiring an additional 345,829 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Macquarie boosted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Morgan Stanley lifted their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $329.70.

Visa Trading Down 0.7 %

V opened at $312.84 on Tuesday. The company’s 50 day moving average price is $310.30 and its two-hundred day moving average price is $286.01. The firm has a market capitalization of $582.78 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the business posted $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, research analysts predict that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio is presently 24.25%.

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.