Family Capital Trust Co Sells 29,662 Shares of Visa Inc. (NYSE:V)

Family Capital Trust Co decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 50.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,642 shares of the credit-card processor's stock after selling 29,662 shares during the period. Visa makes up approximately 3.7% of Family Capital Trust Co's investment portfolio, making the stock its 7th biggest position. Family Capital Trust Co's holdings in Visa were worth $10,388,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Alta Advisers Ltd grew its stake in shares of Visa by 56.0% in the 1st quarter. Alta Advisers Ltd now owns 8,912 shares of the credit-card processor's stock worth $3,123,000 after buying an additional 3,200 shares in the last quarter. Benchmark Financial Wealth Advisors LLC grew its position in Visa by 3.2% in the first quarter. Benchmark Financial Wealth Advisors LLC now owns 3,106 shares of the credit-card processor's stock worth $1,089,000 after acquiring an additional 95 shares in the last quarter. Deseret Mutual Benefit Administrators increased its stake in Visa by 8.5% during the first quarter. Deseret Mutual Benefit Administrators now owns 3,281 shares of the credit-card processor's stock worth $1,150,000 after acquiring an additional 258 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Visa during the first quarter valued at approximately $217,000. Finally, CHURCHILL MANAGEMENT Corp lifted its stake in shares of Visa by 1.5% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 46,190 shares of the credit-card processor's stock valued at $16,188,000 after purchasing an additional 700 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,478 shares of company stock worth $33,717,733 in the last three months. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on V shares. Piper Sandler increased their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. BMO Capital Markets upped their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $372.84.

Visa Stock Up 1.3%

Shares of V traded up $4.48 during mid-day trading on Friday, hitting $358.70. The company's stock had a trading volume of 3,702,810 shares, compared to its average volume of 6,855,011. 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 company's 50-day moving average is $355.79 and its 200-day moving average is $341.24. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a market capitalization of $661.86 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.43 and a beta of 0.92.

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

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 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.