Visa Inc. (NYSE:V) Shares Sold by Comerica Bank

Comerica Bank reduced its stake in shares of Visa Inc. (NYSE:V) by 2.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 612,101 shares of the credit-card processor’s stock after selling 13,233 shares during the period. Visa makes up about 0.8% of Comerica Bank’s holdings, making the stock its 16th largest holding. Comerica Bank’s holdings in Visa were worth $193,449,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of V. Norges Bank acquired a new stake in shares of Visa in the 4th quarter worth approximately $5,171,271,000. Vanguard Group Inc. boosted its stake in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Visa during the 4th quarter valued at $1,955,403,000. Proficio Capital Partners LLC raised its stake in shares of Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after buying an additional 3,926,049 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Susquehanna reissued a “positive” rating on shares of Visa in a research note on Friday, March 21st. Barclays upped their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America lifted their target price on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $358.17.

Visa Price Performance

NYSE V opened at $341.46 on Wednesday. The company has a 50 day moving average price of $337.89 and a two-hundred day moving average price of $323.52. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The stock has a market capitalization of $634.36 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $2.51 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. Visa’s payout ratio is currently 23.79%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $2,930,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock worth $48,842,490 over the last 90 days. Insiders own 0.13% of the company’s stock.

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.