Canandaigua National Bank & Trust Co. Has $2.92 Million Stock Holdings in Visa Inc. (NYSE:V)

Canandaigua National Bank & Trust Co. lowered its holdings in shares of Visa Inc. (NYSE:V) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 9,233 shares of the credit-card processor’s stock after selling 189 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Visa were worth $2,918,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Insight Wealth Strategies LLC lifted its position in Visa by 2.9% during the fourth quarter. Insight Wealth Strategies LLC now owns 1,860 shares of the credit-card processor’s stock worth $588,000 after acquiring an additional 52 shares during the last quarter. Kozak & Associates Inc. boosted its stake in Visa by 2.2% in the 4th quarter. Kozak & Associates Inc. now owns 3,794 shares of the credit-card processor’s stock valued at $1,195,000 after purchasing an additional 81 shares during the period. Iowa State Bank grew its holdings in Visa by 0.7% in the 4th quarter. Iowa State Bank now owns 18,772 shares of the credit-card processor’s stock valued at $5,933,000 after buying an additional 137 shares in the last quarter. Capital Market Strategies LLC acquired a new stake in shares of Visa during the fourth quarter worth $209,000. Finally, CWA Asset Management Group LLC boosted its position in shares of Visa by 3.2% in the fourth quarter. CWA Asset Management Group LLC now owns 64,287 shares of the credit-card processor’s stock valued at $20,317,000 after acquiring an additional 1,965 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

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

Visa Trading Down 0.7 %

Shares of V stock traded down $2.07 on Monday, reaching $312.84. 6,550,267 shares of the company’s stock were exchanged, compared to its average volume of 4,887,388. The stock has a market capitalization of $582.78 billion, a PE ratio of 32.15, a P/E/G ratio of 2.11 and a beta of 0.96. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $309.73 and its 200 day simple moving average is $285.76.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the business posted $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Robert W. Baird increased their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup lifted their price objective on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler increased their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Macquarie lifted 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. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $329.70.

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.