M&T Bank Corp Sells 18,476 Shares of Visa Inc. (NYSE:V)

M&T Bank Corp lowered its position in Visa Inc. (NYSE:V - Free Report) by 5.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 319,909 shares of the credit-card processor's stock after selling 18,476 shares during the quarter. M&T Bank Corp's holdings in Visa were worth $87,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in V. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the third quarter valued at about $26,000. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor's stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in Visa during the 3rd quarter valued at approximately $31,000. Fairway Wealth LLC bought a new position in Visa during the 2nd quarter worth approximately $39,000. Finally, West Financial Advisors LLC lifted its position in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor's stock worth $40,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on V. The Goldman Sachs Group reissued a "buy" rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Macquarie lifted their target price on Visa from $300.00 to $335.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. BMO Capital Markets increased their price target on Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Piper Sandler raised their price target on shares of Visa from $319.00 to $322.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, TD Cowen lifted their price target on shares of Visa from $318.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $328.41.

Visa Stock Performance

Shares of NYSE V traded up $2.83 during midday trading on Friday, hitting $317.71. The company's stock had a trading volume of 24,301,439 shares, compared to its average volume of 6,982,761. The firm has a market capitalization of $591.85 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a fifty day moving average price of $303.21 and a 200 day moving average price of $282.61. Visa Inc. has a one year low of $252.70 and a one year high of $321.61.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.33 earnings per share. On average, research analysts forecast that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is a positive change from Visa's previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.74%. Visa's dividend payout ratio (DPR) is currently 24.25%.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company's stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.13% of the stock is owned by company insiders.

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.