Keybank National Association OH Sells 10,612 Shares of Visa Inc. $V

Keybank National Association OH lowered its stake in shares of Visa Inc. (NYSE:V) by 4.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 204,019 shares of the credit-card processor’s stock after selling 10,612 shares during the quarter. Keybank National Association OH’s holdings in Visa were worth $73,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. John Boyer Inc. purchased a new position in shares of Visa in the 3rd quarter valued at $27,000. Philadelphia Investment Partners LLC acquired a new stake in Visa during the 2nd quarter worth $29,000. Virtus Advisers LLC purchased a new stake in Visa in the second quarter valued at $33,000. Robinswood Financial LLC purchased a new stake in Visa in the first quarter valued at $35,000. Finally, Portfolio Resources Advisor Group Inc. purchased a new stake in Visa in the third quarter valued at $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
• Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
• Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
• Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
• Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance

Visa Stock Performance

Shares of V opened at $422.95 on Wednesday. The company’s 50 day simple moving average is $387.55 and its 200-day simple moving average is $345.66. The firm has a market cap of $754.72 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $442.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, beating the consensus estimate of $3.44 by $0.04. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. Visa’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.98 EPS. As a group, equities analysts predict that Visa Inc. will post 15.02 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be paid a $0.78 dividend. This is a boost from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, November 10th. Visa’s dividend payout ratio (DPR) is presently 25.30%.

Analyst Ratings Changes

Several research firms have issued reports on V. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $430.00 price objective on shares of Visa in a research note on Wednesday, July 29th. KeyCorp lifted their target price on Visa from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. BNP Paribas Exane lifted their target price on Visa from $420.00 to $425.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings downgraded Visa from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, October 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $466.00 target price on shares of Visa in a report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $442.29.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $367.87, for a total value of $2,161,236.25. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,582,059.38. This represents a 27.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $7,018,365.40. This trade represents a 9.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 29,262 shares of company stock worth $11,195,791. 0.12% of the stock is currently owned by company insiders.

Visa Company Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.