First National Trust Co Decreases Holdings in Visa Inc. (NYSE:V)

First National Trust Co lowered its position in Visa Inc. (NYSE:V) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP bought a new position in shares of Visa during the third quarter valued at about $660,000. Waverton Investment Management Ltd grew its position in Visa by 4.9% during the 3rd quarter. Waverton Investment Management Ltd now owns 921,540 shares of the credit-card processor’s stock worth $253,225,000 after acquiring an additional 42,771 shares during the last quarter. Harbour Investments Inc. increased its stake in Visa by 2.5% in the 3rd quarter. Harbour Investments Inc. now owns 21,270 shares of the credit-card processor’s stock worth $5,848,000 after purchasing an additional 522 shares during the period. Entropy Technologies LP bought a new stake in Visa in the third quarter valued at approximately $7,258,000. Finally, Keystone Financial Services boosted its stake in shares of Visa by 9.0% during the third quarter. Keystone Financial Services now owns 3,092 shares of the credit-card processor’s stock valued at $850,000 after purchasing an additional 256 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.0 %

NYSE:V opened at $310.98 on Tuesday. The firm has a 50-day simple moving average of $283.95 and a two-hundred day simple moving average of $274.67. The firm has a market cap of $566.70 billion, a P/E ratio of 31.96, a P/E/G ratio of 2.06 and a beta of 0.95. Visa Inc. has a fifty-two week low of $244.11 and a fifty-two week high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

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

Visa Increases Dividend

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

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Barclays lifted their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. TD Cowen upped their price objective 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. Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

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.