Fulton Bank N.A. Has $10.06 Million Stock Position in Visa Inc. (NYSE:V)

Fulton Bank N.A. reduced its holdings in shares of Visa Inc. (NYSE:V) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,826 shares of the credit-card processor’s stock after selling 688 shares during the period. Fulton Bank N.A.’s holdings in Visa were worth $10,058,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in shares of Visa in the 3rd quarter worth $26,000. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter worth approximately $31,000. Modus Advisors LLC purchased a new position in Visa in the fourth quarter worth $32,000. Fairway Wealth LLC purchased a new position in shares of Visa in the 2nd quarter worth about $39,000. Finally, West Financial Advisors LLC grew its position in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after acquiring an additional 73 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.4 %

NYSE:V traded up $1.33 during trading hours on Wednesday, hitting $313.00. The company had a trading volume of 2,102,745 shares, compared to its average volume of 4,628,141. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50-day moving average price of $310.90 and a 200 day moving average price of $286.27. The company has a market capitalization of $583.08 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 24.25%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Mizuho lifted their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Robert W. Baird upped their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Macquarie lifted their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $329.70.

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.