Mechanics Bank Trust Department Acquires 386 Shares of Visa Inc. (NYSE:V)

Mechanics Bank Trust Department grew its holdings in Visa Inc. (NYSE:V) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,846 shares of the credit-card processor’s stock after purchasing an additional 386 shares during the quarter. Visa comprises about 1.2% of Mechanics Bank Trust Department’s portfolio, making the stock its 24th biggest position. Mechanics Bank Trust Department’s holdings in Visa were worth $9,031,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Westend Capital Management LLC bought a new stake in Visa in the first quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in Visa in the 4th quarter valued at about $25,000. POM Investment Strategies LLC raised its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $277.84 on Friday. The business’s 50 day simple moving average is $274.16 and its 200 day simple moving average is $272.66. Visa Inc. has a 12 month low of $228.03 and a 12 month high of $293.07. The company has a market cap of $508.15 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.92 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. 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%.

Wall Street Analyst Weigh In

V has been the topic of a number of research reports. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Macquarie reissued an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Friday, September 27th. BMO Capital Markets raised their price target on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Bank of America boosted their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Five investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $312.04.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

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.