Camden National Bank Sells 852 Shares of Visa Inc. (NYSE:V)

Camden National Bank lessened its holdings in shares of Visa Inc. (NYSE:V) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,775 shares of the credit-card processor’s stock after selling 852 shares during the quarter. Visa makes up approximately 1.8% of Camden National Bank’s portfolio, making the stock its 17th largest holding. Camden National Bank’s holdings in Visa were worth $12,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Unionview LLC grew its holdings in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the last quarter. FWG Holdings LLC grew its holdings in Visa by 1.1% during the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after purchasing an additional 34 shares during the last quarter. St. Louis Trust Co grew its holdings in Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after purchasing an additional 34 shares during the last quarter. KMG Fiduciary Partners LLC grew its holdings in Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in Visa by 15.9% during the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock valued at $74,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred 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 $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Citigroup raised their price objective on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Barclays raised their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Price Performance

Shares of V stock opened at $309.93 on Friday. The firm has a market cap of $577.36 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 2.08 and a beta of 0.95. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $312.44. The stock has a 50-day moving average price of $289.52 and a 200 day moving average price of $277.33. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company earned $2.33 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s payout ratio is currently 24.25%.

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.