Mechanics Bank Trust Department Has $7.67 Million Position in Visa Inc. (NYSE:V)

Mechanics Bank Trust Department lessened its stake in shares of Visa Inc. (NYSE:VGet Rating) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,975 shares of the credit-card processor’s stock after selling 76 shares during the period. Visa accounts for about 1.4% of Mechanics Bank Trust Department’s portfolio, making the stock its 20th largest position. Mechanics Bank Trust Department’s holdings in Visa were worth $7,674,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Stokes Capital Advisors LLC raised its holdings in Visa by 3.7% during the second quarter. Stokes Capital Advisors LLC now owns 32,919 shares of the credit-card processor’s stock worth $6,481,000 after buying an additional 1,186 shares during the last quarter. Castle Rock Wealth Management LLC raised its holdings in Visa by 4.9% during the second quarter. Castle Rock Wealth Management LLC now owns 9,936 shares of the credit-card processor’s stock worth $2,015,000 after buying an additional 465 shares during the last quarter. Keystone Wealth Services LLC raised its holdings in Visa by 4.1% during the second quarter. Keystone Wealth Services LLC now owns 4,488 shares of the credit-card processor’s stock worth $884,000 after buying an additional 176 shares during the last quarter. ACG Wealth raised its holdings in Visa by 0.4% during the second quarter. ACG Wealth now owns 15,679 shares of the credit-card processor’s stock worth $3,088,000 after buying an additional 66 shares during the last quarter. Finally, Blue Zone Wealth Advisors LLC raised its holdings in Visa by 0.8% during the second quarter. Blue Zone Wealth Advisors LLC now owns 22,586 shares of the credit-card processor’s stock worth $4,447,000 after buying an additional 182 shares during the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.

Visa Price Performance

V opened at $185.79 on Friday. The firm has a market cap of $351.22 billion, a P/E ratio of 27.40, a PEG ratio of 1.51 and a beta of 0.90. The firm has a 50-day moving average of $206.30 and a 200 day moving average of $206.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. Visa Inc. has a fifty-two week low of $184.66 and a fifty-two week high of $236.96.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.50 dividend on an annualized basis and a yield of 0.81%. Visa’s dividend payout ratio is presently 22.12%.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. Susquehanna lowered their price objective on shares of Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Wolfe Research lowered their price objective on shares of Visa from $285.00 to $260.00 in a report on Wednesday, July 20th. Daiwa Capital Markets downgraded shares of Visa from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $230.00 to $225.00 in a report on Tuesday, August 16th. Barclays upped their price objective on shares of Visa from $263.00 to $271.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Finally, Robert W. Baird lowered their target price on shares of Visa from $290.00 to $265.00 in a report on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $257.64.

Insiders Place Their Bets

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $195.37, for a total transaction of $1,758,330.00. Following the completion of the transaction, the chief executive officer now owns 159,887 shares in the company, valued at $31,237,123.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

Visa Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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