National Bank of Canada FI Has $316.67 Million Stock Position in Visa Inc. $V

National Bank of Canada FI reduced its stake in Visa Inc. (NYSE:V) by 38.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 892,419 shares of the credit-card processor’s stock after selling 546,348 shares during the period. National Bank of Canada FI’s holdings in Visa were worth $316,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of V. Keystone Global Partners LLC bought a new position in shares of Visa during the first quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the 2nd quarter worth about $28,000. Harbor Asset Planning Inc. bought a new position in Visa during the 2nd quarter valued at about $29,000. Sagard Holdings Management Inc. acquired a new position in Visa in the second quarter valued at about $31,000. Finally, Cranbrook Wealth Management LLC grew its stake in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.6%

V stock opened at $347.83 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a market cap of $633.65 billion, a P/E ratio of 34.07, a PEG ratio of 2.06 and a beta of 0.82. The business has a fifty day moving average of $337.70 and a 200-day moving average of $345.25.

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

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. Visa’s payout ratio is presently 26.25%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 24,042 shares of company stock worth $8,175,152 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. KeyCorp reiterated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Citigroup upgraded Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Raymond James Financial restated an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Five analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $402.52.

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.