Chemung Canal Trust Co. Boosts Stock Position in Visa Inc. (NYSE:V)


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Chemung Canal Trust Co. increased its stake in Visa Inc. (NYSE:V) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,909 shares of the credit-card processor’s stock after acquiring an additional 1,464 shares during the period. Visa comprises about 2.0% of Chemung Canal Trust Co.’s holdings, making the stock its 13th largest holding. Chemung Canal Trust Co.’s holdings in Visa were worth $9,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc lifted its stake in shares of Visa by 251.6% in the 3rd quarter. Mountain Capital Investment Advisors Inc now owns 12,367 shares of the credit-card processor’s stock valued at $2,553,000 after acquiring an additional 8,850 shares during the last quarter. S&CO Inc. lifted its stake in shares of Visa by 3.8% in the 3rd quarter. S&CO Inc. now owns 5,147 shares of the credit-card processor’s stock valued at $1,029,000 after acquiring an additional 190 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Visa by 5.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 554,454 shares of the credit-card processor’s stock valued at $110,874,000 after acquiring an additional 29,158 shares during the last quarter. Park National Corp OH lifted its stake in shares of Visa by 5.5% in the 4th quarter. Park National Corp OH now owns 155,929 shares of the credit-card processor’s stock valued at $34,107,000 after acquiring an additional 8,137 shares during the last quarter. Finally, Two Creeks Capital Management LP lifted its stake in shares of Visa by 13.7% in the 3rd quarter. Two Creeks Capital Management LP now owns 713,083 shares of the credit-card processor’s stock valued at $142,595,000 after acquiring an additional 85,703 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Monday, November 30th. The stock was sold at an average price of $209.40, for a total value of $1,884,600.00. Following the completion of the transaction, the chief executive officer now owns 132,660 shares of the company’s stock, valued at approximately $27,779,004. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rajat Taneja sold 60,048 shares of the business’s stock in a transaction dated Wednesday, December 30th. The stock was sold at an average price of $220.00, for a total value of $13,210,560.00. Following the completion of the transaction, the insider now directly owns 310,904 shares of the company’s stock, valued at approximately $68,398,880. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,205 shares of company stock valued at $17,188,463. 0.19% of the stock is owned by insiders.

V opened at $209.35 on Thursday. The stock has a 50-day moving average price of $211.56 and a 200-day moving average price of $202.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market cap of $407.94 billion, a PE ratio of 39.88, a P/E/G ratio of 2.59 and a beta of 0.91. Visa Inc. has a 1 year low of $133.93 and a 1 year high of $220.39.

Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 28th. The credit-card processor reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.03. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. As a group, sell-side analysts anticipate that Visa Inc. will post 5.01 EPS for the current year.

V has been the subject of several research analyst reports. Wedbush reiterated a “buy” rating and issued a $220.00 price objective on shares of Visa in a report on Monday, October 5th. Barclays reiterated a “buy” rating and issued a $230.00 price target on shares of Visa in a report on Tuesday, December 22nd. Oppenheimer reiterated a “buy” rating and issued a $212.00 price target (down previously from $233.00) on shares of Visa in a report on Thursday, October 29th. KeyCorp lifted their price target on shares of Visa from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Piper Sandler lifted their price target on shares of Visa from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, December 2nd. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $220.41.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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