First National Bank of Mount Dora Trust Investment Services Lowers Stake in Visa Inc. (NYSE:V)


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First National Bank of Mount Dora Trust Investment Services trimmed its position in shares of Visa Inc. (NYSE:V) by 17.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,292 shares of the credit-card processor’s stock after selling 6,208 shares during the period. Visa makes up about 2.2% of First National Bank of Mount Dora Trust Investment Services’ holdings, making the stock its 13th largest holding. First National Bank of Mount Dora Trust Investment Services’ holdings in Visa were worth $6,202,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of Visa by 2.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 77,974,988 shares of the credit-card processor’s stock worth $17,039,976,000 after acquiring an additional 2,064,562 shares in the last quarter. Morgan Stanley grew its holdings in Visa by 20.2% during the 4th quarter. Morgan Stanley now owns 40,793,518 shares of the credit-card processor’s stock worth $8,922,767,000 after acquiring an additional 6,857,457 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Visa by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 22,220,489 shares of the credit-card processor’s stock valued at $4,860,288,000 after purchasing an additional 682,741 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Visa by 1.1% in the 4th quarter. Alliancebernstein L.P. now owns 18,669,445 shares of the credit-card processor’s stock valued at $4,083,568,000 after purchasing an additional 206,395 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Visa during the 4th quarter worth $3,305,348,000. 80.50% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Rajat Taneja sold 31,750 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $223.00, for a total value of $7,080,250.00. Following the transaction, the insider now owns 282,606 shares in the company, valued at $63,021,138. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Ryan Mcinerney sold 11,193 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $210.00, for a total transaction of $2,350,530.00. Following the sale, the president now owns 11,193 shares of the company’s stock, valued at $2,350,530. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,093 shares of company stock worth $20,418,578. 0.19% of the stock is owned by company insiders.

A number of brokerages have issued reports on V. KeyCorp lifted their price target on Visa from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, January 13th. 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. Barclays restated a “buy” rating and issued a $230.00 price objective on shares of Visa in a research note on Tuesday, December 22nd. Jefferies Financial Group upgraded Visa from a “hold” rating to a “buy” rating and lifted their target price for the stock from $195.00 to $250.00 in a research report on Wednesday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Visa from $220.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 14th. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $226.42.

Shares of NYSE:V traded up $2.24 during midday trading on Thursday, reaching $221.51. The company’s stock had a trading volume of 37,155 shares, compared to its average volume of 10,067,009. The firm has a market cap of $432.46 billion, a price-to-earnings ratio of 44.93, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The business has a 50 day moving average price of $214.52 and a 200 day moving average price of $207.22. Visa Inc. has a 1 year low of $159.15 and a 1 year high of $228.23. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.68.

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

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

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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