First National Trust Co Sells 517 Shares of Visa Inc. (NYSE:V)

First National Trust Co trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 77,772 shares of the credit-card processor’s stock after selling 517 shares during the quarter. First National Trust Co’s holdings in Visa were worth $21,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arjuna Capital lifted its position in shares of Visa by 0.8% during the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after buying an additional 96 shares in the last quarter. Custom Index Systems LLC purchased a new position in Visa during the third quarter valued at approximately $731,000. Mechanics Bank Trust Department lifted its holdings in Visa by 8.0% during the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after purchasing an additional 2,410 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Visa by 46.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after purchasing an additional 16,078 shares during the period. Finally, Chicago Capital LLC increased its stake in shares of Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after purchasing an additional 20,023 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Visa stock opened at $310.98 on Tuesday. Visa Inc. has a 12-month low of $244.11 and a 12-month high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $283.95 and a 200-day moving average price of $274.67. The firm has a market capitalization of $566.70 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.18 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is presently 21.38%.

Analyst Ratings Changes

V has been the topic of a number of analyst reports. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Bank of America boosted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.