Kennebec Savings Bank Cuts Position in Visa Inc. (NYSE:V)

Kennebec Savings Bank lessened its holdings in Visa Inc. (NYSE:V) by 7.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,342 shares of the credit-card processor’s stock after selling 252 shares during the quarter. Visa comprises about 1.0% of Kennebec Savings Bank’s portfolio, making the stock its 29th largest holding. Kennebec Savings Bank’s holdings in Visa were worth $1,026,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Czech National Bank grew its holdings in shares of Visa by 13.4% during the third quarter. Czech National Bank now owns 340,238 shares of the credit-card processor’s stock valued at $93,548,000 after buying an additional 40,268 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Visa by 17.1% during the third quarter. GAMMA Investing LLC now owns 33,270 shares of the credit-card processor’s stock valued at $9,148,000 after buying an additional 4,848 shares during the last quarter. Herbst Group LLC grew its holdings in shares of Visa by 75.8% during the third quarter. Herbst Group LLC now owns 9,105 shares of the credit-card processor’s stock valued at $2,503,000 after buying an additional 3,925 shares during the last quarter. WealthBridge Capital Management LLC boosted its holdings in Visa by 16.8% in the third quarter. WealthBridge Capital Management LLC now owns 4,437 shares of the credit-card processor’s stock worth $1,220,000 after purchasing an additional 638 shares during the last quarter. Finally, Smith Anglin Financial LLC boosted its holdings in Visa by 0.7% in the third quarter. Smith Anglin Financial LLC now owns 5,912 shares of the credit-card processor’s stock worth $1,625,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Stock Performance

Shares of NYSE:V opened at $342.05 on Monday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $351.25. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a fifty day simple moving average of $317.74 and a two-hundred day simple moving average of $293.12. The stock has a market capitalization of $637.19 billion, a P/E ratio of 35.15, a PEG ratio of 2.27 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. On average, analysts expect that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s dividend payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

V has been the topic of several recent research reports. Citigroup increased their price target on shares of Visa from $354.00 to $393.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer increased their price target on shares of Visa from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley increased their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. TD Cowen increased their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America increased their price target on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $352.27.

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.