Field & Main Bank Lowers Stake in Visa Inc. $V

Field & Main Bank reduced its position in shares of Visa Inc. (NYSE:V) by 2.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 15,957 shares of the credit-card processor’s stock after selling 322 shares during the period. Visa accounts for 1.8% of Field & Main Bank’s portfolio, making the stock its 12th biggest position. Field & Main Bank’s holdings in Visa were worth $5,665,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of V. Yeomans Consulting Group Inc. lifted its stake in Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares in the last quarter. Semus Wealth Partners LLC lifted its stake in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after buying an additional 29 shares in the last quarter. BankPlus Wealth Management LLC lifted its stake in Visa by 0.9% in the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after buying an additional 29 shares in the last quarter. Transcendent Capital Group LLC lifted its stake in Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares in the last quarter. Finally, Wood Tarver Financial Group LLC lifted its stake in Visa by 11.1% in the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock valued at $105,000 after buying an additional 30 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 1.1%

V stock opened at $341.07 on Friday. The company has a market cap of $625.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.06 and a beta of 0.90. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $287.19 and a 12 month high of $375.51. The firm has a 50-day moving average of $344.78 and a two-hundred day moving average of $348.31.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.71 EPS. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is 23.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday. Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Barclays reiterated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by company insiders.

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.