Penobscot Investment Management Company Inc. Sells 1,334 Shares of Visa Inc. (NYSE:V)

Penobscot Investment Management Company Inc. lowered its holdings in Visa Inc. (NYSE:V) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,190 shares of the credit-card processor’s stock after selling 1,334 shares during the quarter. Visa comprises approximately 2.1% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 7th largest holding. Penobscot Investment Management Company Inc.’s holdings in Visa were worth $22,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morey & Quinn Wealth Partners LLC bought a new stake in Visa during the 4th quarter worth approximately $492,000. Ipsen Advisor Group LLC bought a new stake in Visa during the fourth quarter worth $651,000. Summitry LLC raised its position in Visa by 1.7% in the 4th quarter. Summitry LLC now owns 319,613 shares of the credit-card processor’s stock valued at $101,011,000 after buying an additional 5,232 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Visa during the 4th quarter valued at $320,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Visa by 2.4% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,172,293 shares of the credit-card processor’s stock worth $370,491,000 after acquiring an additional 27,975 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.3 %

NYSE V opened at $344.95 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $640.84 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. Visa Inc. has a one year low of $252.70 and a one year high of $366.54. The company’s 50-day simple moving average is $341.94 and its two-hundred day simple moving average is $314.21.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is presently 23.79%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on V. Wells Fargo & Company raised their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Visa in a research report on Friday, January 31st. Morgan Stanley increased their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America upped their price target on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group raised their price target on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Insider Activity at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,205 shares of company stock worth $48,560,961. 0.13% of the stock is owned by company insiders.

Visa Company 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.