Fulton Bank N.A. Sells 2,761 Shares of Visa Inc. (NYSE:V)

Fulton Bank N.A. trimmed its stake in Visa Inc. (NYSE:V) by 7.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,747 shares of the credit-card processor’s stock after selling 2,761 shares during the period. Fulton Bank N.A.’s holdings in Visa were worth $8,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Graham Capital Wealth Management LLC acquired a new stake in Visa in the first quarter valued at $299,862,000. Financial Freedom LLC acquired a new stake in Visa in the fourth quarter valued at $32,000. Ridgewood Investments LLC acquired a new stake in Visa in the first quarter valued at $35,000. Kalos Management Inc. acquired a new stake in Visa during the 1st quarter worth about $40,000. Finally, NewSquare Capital LLC grew its holdings in Visa by 121.9% during the 1st quarter. NewSquare Capital LLC now owns 213 shares of the credit-card processor’s stock worth $48,000 after acquiring an additional 117 shares during the period. 81.35% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE V opened at $241.00 on Friday. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $250.06. The stock has a market cap of $448.70 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.81 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The firm’s 50-day simple moving average is $241.58 and its 200 day simple moving average is $232.04.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.05. Visa had a net margin of 51.94% and a return on equity of 49.42%. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.06 billion. During the same quarter last year, the firm earned $1.98 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 8.65 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 22.84%.

Insiders Place Their Bets

In other Visa news, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Visa news, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 24,025 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 81,550 shares of company stock valued at $19,795,806 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Raymond James increased their price target on Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Wells Fargo & Company increased their price target on Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Susquehanna increased their price target on Visa from $266.00 to $300.00 in a report on Wednesday, July 26th. JPMorgan Chase & Co. increased their price target on Visa from $265.00 to $296.00 and gave the stock an “overweight” rating in a report on Tuesday, August 22nd. Finally, Oppenheimer reiterated an “outperform” rating and set a $248.00 price target on shares of Visa in a report on Monday, July 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $273.77.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.