Enterprise Bank & Trust Co Trims Stake in Visa Inc. (NYSE:V)

Enterprise Bank & Trust Co cut its holdings in Visa Inc. (NYSE:V) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,138 shares of the credit-card processor’s stock after selling 53 shares during the period. Visa accounts for 1.0% of Enterprise Bank & Trust Co’s portfolio, making the stock its 26th largest holding. Enterprise Bank & Trust Co’s holdings in Visa were worth $3,062,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hilltop National Bank purchased a new stake in Visa in the 1st quarter worth approximately $1,212,000. Absolute Capital Management LLC bought a new stake in shares of Visa during the 1st quarter valued at $404,000. Davidson Capital Management Inc. lifted its stake in shares of Visa by 0.5% during the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares in the last quarter. Empirical Finance LLC lifted its stake in shares of Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares in the last quarter. Finally, Arjuna Capital boosted its holdings in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on V shares. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group decreased their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Compass Point initiated coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Finally, Evercore ISI lowered their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

Visa Price Performance

NYSE V opened at $276.96 on Thursday. The company has a market cap of $506.54 billion, a PE ratio of 30.95, a P/E/G ratio of 1.92 and a beta of 0.96. The firm’s 50 day moving average price is $273.48 and its 200-day moving average price is $272.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 EPS. Sell-side analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

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.