Nixon Peabody Trust Co. Sells 279 Shares of Visa Inc. (NYSE:V)

Nixon Peabody Trust Co. trimmed its position in shares of Visa Inc. (NYSE:V) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,093 shares of the credit-card processor’s stock after selling 279 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Visa were worth $812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hilltop National Bank bought a new stake in shares of Visa in the first quarter worth about $1,212,000. TCI Wealth Advisors Inc. boosted its holdings in Visa by 0.8% during the 4th quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after acquiring an additional 40 shares during the period. Absolute Capital Management LLC purchased a new stake in Visa in the first quarter worth $404,000. SageView Advisory Group LLC boosted its stake in shares of Visa by 40.4% during the fourth quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after purchasing an additional 7,236 shares during the period. Finally, Davidson Capital Management Inc. increased its stake in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 44 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

V traded up $4.52 during trading on Thursday, hitting $273.71. The stock had a trading volume of 1,377,369 shares, compared to its average volume of 7,113,789. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $498.78 billion, a P/E ratio of 30.56, a PEG ratio of 1.89 and a beta of 0.95. The company’s 50-day moving average price is $265.81 and its 200 day moving average price is $273.14. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data 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 company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 EPS. On average, equities research analysts forecast that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Bank of America reissued a “neutral” rating and issued a $297.00 price objective (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Evercore ISI lowered their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Macquarie reaffirmed an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.50.

About Visa

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.