OLD Point Trust & Financial Services N A Sells 269 Shares of Visa Inc. $V

OLD Point Trust & Financial Services N A decreased its position in shares of Visa Inc. (NYSE:V) by 4.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,072 shares of the credit-card processor’s stock after selling 269 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Visa were worth $2,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after acquiring an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Stock Up 0.4%

V stock opened at $347.34 on Friday. The stock’s fifty day simple moving average is $344.79 and its two-hundred day simple moving average is $347.60. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51. The stock has a market cap of $636.60 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.05 and a beta of 0.90.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Analysts Set New Price Targets

Several research firms have recently commented on V. Robert W. Baird set a $410.00 price objective on Visa and gave the company an “outperform” rating in a report on Monday, October 6th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $392.75.

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.