Canandaigua National Corp Lowers Stock Position in Visa Inc. (NYSE:V)


Share on StockTwits

Canandaigua National Corp lessened its stake in shares of Visa Inc. (NYSE:V) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,023 shares of the credit-card processor’s stock after selling 991 shares during the quarter. Canandaigua National Corp’s holdings in Visa were worth $2,757,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Woodstock Corp boosted its stake in shares of Visa by 0.4% in the first quarter. Woodstock Corp now owns 29,211 shares of the credit-card processor’s stock valued at $6,185,000 after purchasing an additional 115 shares during the period. Chemung Canal Trust Co. boosted its stake in shares of Visa by 6.1% in the first quarter. Chemung Canal Trust Co. now owns 45,506 shares of the credit-card processor’s stock valued at $9,635,000 after purchasing an additional 2,597 shares during the period. Private Asset Management Inc. boosted its stake in shares of Visa by 1.0% in the first quarter. Private Asset Management Inc. now owns 115,656 shares of the credit-card processor’s stock valued at $24,488,000 after purchasing an additional 1,089 shares during the period. Park National Corp OH boosted its stake in shares of Visa by 10.5% in the first quarter. Park National Corp OH now owns 172,300 shares of the credit-card processor’s stock valued at $36,481,000 after purchasing an additional 16,371 shares during the period. Finally, Cox Capital Mgt LLC boosted its stake in shares of Visa by 3.3% in the first quarter. Cox Capital Mgt LLC now owns 7,350 shares of the credit-card processor’s stock valued at $1,556,000 after purchasing an additional 233 shares during the period. 80.50% of the stock is owned by institutional investors.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction on Wednesday, March 31st. The shares were sold at an average price of $212.55, for a total value of $1,912,950.00. Following the transaction, the chief executive officer now directly owns 163,112 shares of the company’s stock, valued at approximately $34,669,455.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Ryan Mcinerney sold 11,193 shares of the business’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $210.00, for a total transaction of $2,350,530.00. Following the completion of the transaction, the president now directly owns 11,193 shares in the company, valued at $2,350,530. The disclosure for this sale can be found here. Insiders sold a total of 93,093 shares of company stock worth $20,418,578 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Shares of Visa stock traded up $2.95 during trading on Thursday, reaching $222.22. The company’s stock had a trading volume of 121,927 shares, compared to its average volume of 10,067,009. The company has a 50-day moving average price of $214.52 and a two-hundred day moving average price of $207.22. The firm has a market cap of $433.84 billion, a PE ratio of 44.93, a P/E/G ratio of 3.80 and a beta of 0.96. Visa Inc. has a fifty-two week low of $159.15 and a fifty-two week high of $228.23. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.68.

Visa (NYSE:V) last announced its earnings results on Thursday, January 28th. The credit-card processor reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. The business had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Visa had a net margin of 49.74% and a return on equity of 37.22%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.46 EPS. On average, analysts predict that Visa Inc. will post 5.45 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were paid a $0.32 dividend. The ex-dividend date was Thursday, February 11th. This represents a $1.28 annualized dividend and a yield of 0.58%. Visa’s dividend payout ratio is currently 25.40%.

V has been the subject of several recent research reports. Jefferies Financial Group raised shares of Visa from a “hold” rating to a “buy” rating and raised their price objective for the company from $195.00 to $250.00 in a research note on Wednesday, January 13th. Sanford C. Bernstein assumed coverage on shares of Visa in a research note on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 price target for the company. Morgan Stanley lifted their price target on shares of Visa from $233.00 to $253.00 and gave the stock an “overweight” rating in a research note on Monday, March 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Visa from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 14th. Finally, Credit Suisse Group lifted their price target on shares of Visa from $255.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, January 29th. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Visa currently has a consensus rating of “Buy” and a consensus target price of $226.42.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

Featured Article: Book Value Per Share in Stock Trading

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.