Visa Inc. (NYSE:V) is Penobscot Investment Management Company Inc.’s 6th Largest Position

Penobscot Investment Management Company Inc. boosted its position in Visa Inc. (NYSE:V) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,732 shares of the credit-card processor’s stock after purchasing an additional 3,572 shares during the quarter. Visa makes up approximately 2.1% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 6th largest holding. Penobscot Investment Management Company Inc.’s holdings in Visa were worth $18,155,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC grew its holdings in shares of Visa by 3.4% during the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock valued at $317,000 after purchasing an additional 40 shares during the last quarter. Destiny Wealth Partners LLC raised its holdings in shares of Visa by 2.5% during the fourth quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock valued at $433,000 after purchasing an additional 40 shares during the last quarter. Sunflower Bank N.A. raised its holdings in shares of Visa by 1.3% during the fourth quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock valued at $818,000 after purchasing an additional 41 shares during the last quarter. Parker Financial LLC increased its holdings in Visa by 4.8% during the fourth quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock valued at $241,000 after buying an additional 42 shares during the last quarter. Finally, Patron Partners LLC increased its holdings in Visa by 1.0% during the fourth quarter. Patron Partners LLC now owns 4,295 shares of the credit-card processor’s stock valued at $1,118,000 after buying an additional 42 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on V shares. Raymond James raised their price target on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Wells Fargo & Company lifted their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Oppenheimer lifted their price objective on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. UBS Group upped their target price on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Wedbush upped their target price on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.58.

Visa Stock Down 0.7 %

Visa stock traded down $1.80 during midday trading on Tuesday, hitting $270.04. 1,892,331 shares of the company were exchanged, compared to its average volume of 5,880,617. The company’s fifty day moving average price is $279.11 and its 200-day moving average price is $264.97. The company has a market cap of $495.93 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same period in the previous year, the company posted $2.09 EPS. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,874 shares of company stock valued at $5,506,827. 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.