Visa Inc. (NYSE:V) Shares Sold by Farmers Trust Co.

Farmers Trust Co. reduced its stake in shares of Visa Inc. (NYSE:V) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,619 shares of the credit-card processor’s stock after selling 119 shares during the period. Visa accounts for about 1.4% of Farmers Trust Co.’s holdings, making the stock its 18th biggest position. Farmers Trust Co.’s holdings in Visa were worth $6,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Long Run Wealth Advisors LLC raised its position in shares of Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after buying an additional 37 shares during the last quarter. Alaethes Wealth LLC grew its stake in Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares during the period. Jessup Wealth Management Inc raised its holdings in Visa by 0.7% in the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares during the last quarter. Cordatus Wealth Management LLC lifted its stake in shares of Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares during the period. Finally, Aurora Private Wealth Inc. grew its position in shares of Visa by 3.8% in the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock valued at $289,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on V. Oppenheimer increased their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Royal Bank of Canada cut their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Piper Sandler dropped their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Macquarie reissued an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Finally, TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $307.25.

Visa Stock Up 0.4 %

V traded up $1.12 on Wednesday, reaching $261.25. The company’s stock had a trading volume of 4,253,449 shares, compared to its average volume of 7,212,786. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The business’s 50 day moving average is $267.11 and its 200 day moving average is $273.77. The stock has a market cap of $476.08 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 EPS. As a group, research analysts forecast that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, August 9th. Visa’s payout ratio is currently 23.24%.

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.