First National Trust Co Sells 1,104 Shares of Visa Inc. $V

First National Trust Co decreased its holdings in shares of Visa Inc. (NYSE:V) by 1.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,532 shares of the credit-card processor’s stock after selling 1,104 shares during the period. Visa accounts for 1.0% of First National Trust Co’s portfolio, making the stock its 21st largest position. First National Trust Co’s holdings in Visa were worth $26,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keystone Global Partners LLC bought a new position in shares of Visa during the first quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in Visa during the 2nd quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC boosted its stake in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on V shares. Raymond James Financial reiterated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research note on Wednesday. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley set a $398.00 target price on Visa and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird set a $425.00 target price on Visa in a research note on Wednesday. Finally, Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Trading Up 1.0%

NYSE:V opened at $344.53 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $287.19 and a 12 month high of $375.51. The company has a market cap of $631.44 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. The company has a 50 day simple moving average of $344.94 and a two-hundred day simple moving average of $348.27.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is presently 23.11%.

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.