Piscataqua Savings Bank Cuts Stake in Visa Inc. (NYSE:V)

Piscataqua Savings Bank lessened its stake in Visa Inc. (NYSE:V) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,417 shares of the credit-card processor’s stock after selling 401 shares during the quarter. Visa makes up about 1.5% of Piscataqua Savings Bank’s investment portfolio, making the stock its 16th largest position. Piscataqua Savings Bank’s holdings in Visa were worth $1,712,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Quarry LP raised its position in shares of Visa by 310.5% during the 2nd quarter. Quarry LP now owns 468 shares of the credit-card processor’s stock valued at $123,000 after buying an additional 354 shares in the last quarter. Advisory Alpha LLC raised its holdings in Visa by 18.0% during the 2nd quarter. Advisory Alpha LLC now owns 4,055 shares of the credit-card processor’s stock valued at $1,064,000 after buying an additional 620 shares during the period. Granite Bay Wealth Management LLC lifted its position in Visa by 90.8% in the second quarter. Granite Bay Wealth Management LLC now owns 3,247 shares of the credit-card processor’s stock worth $852,000 after buying an additional 1,545 shares during the last quarter. RiverFront Investment Group LLC boosted its stake in Visa by 9.8% during the second quarter. RiverFront Investment Group LLC now owns 24,195 shares of the credit-card processor’s stock worth $6,351,000 after buying an additional 2,168 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new position in Visa during the second quarter valued at $322,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $336.45 on Thursday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $337.83. The company has a market cap of $626.76 billion, a PE ratio of 34.58, a P/E/G ratio of 2.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The business has a 50-day simple moving average of $315.85 and a two-hundred day simple moving average of $291.78.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $2.33 EPS. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Insider Activity

In related 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 at this link. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Barclays raised their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Susquehanna upped their price objective on Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research report on Wednesday, December 11th. Robert W. Baird increased their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $335.52.

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.