Coastline Trust Co Sells 920 Shares of Visa Inc. (NYSE:V)

Coastline Trust Co cut its stake in Visa Inc. (NYSE:V - Free Report) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,920 shares of the credit-card processor's stock after selling 920 shares during the quarter. Visa makes up approximately 1.5% of Coastline Trust Co's investment portfolio, making the stock its 20th largest holding. Coastline Trust Co's holdings in Visa were worth $11,888,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of V. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares during the period. Blue Rock Wealth Management LLC bought a new position in Visa in the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC increased its holdings in Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after buying an additional 30,185 shares during the period. King Wealth Management Group increased its holdings in Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after buying an additional 6,172 shares during the period. Finally, Eagle Strategies LLC increased its holdings in Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after buying an additional 63 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock worth $36,771,200 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on V shares. Barclays reissued an "overweight" rating on shares of Visa in a report on Friday, June 13th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Macquarie decreased their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group raised their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, BMO Capital Markets raised their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $372.84.

Visa Trading Down 0.6%

V traded down $2.21 during trading on Monday, reaching $356.65. 5,135,922 shares of the company's stock were exchanged, compared to its average volume of 6,843,617. The stock has a market capitalization of $658.08 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average price of $356.17 and a two-hundred day moving average price of $341.92.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.51 EPS. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa's dividend payout ratio (DPR) is presently 23.72%.

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.