Family Capital Trust Co Lowers Stock Holdings in Visa Inc. $V

Key Points

• Family Capital Trust Co has reduced its holdings in Visa Inc. by 4.6%, selling 1,365 shares and owning 28,277 shares now, which represent 3.5% of its portfolio.
• Visa reported a quarterly EPS of $2.98 exceeding analyst expectations, with revenue of $10.17 billion, signaling a 14.3% year-over-year growth.
• Multiple analysts have increased their target prices for Visa, with Macquarie raising its target from $380.00 to $425.00, reflecting strong investor confidence.

Family Capital Trust Co reduced its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,277 shares of the credit-card processor's stock after selling 1,365 shares during the quarter. Visa accounts for 3.5% of Family Capital Trust Co's portfolio, making the stock its 9th biggest holding. Family Capital Trust Co's holdings in Visa were worth $10,039,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Keystone Global Partners LLC bought a new position in shares of Visa during the first quarter valued at $26,000. Family Legacy Financial Solutions LLC bought a new position in Visa in the second quarter valued at about $28,000. von Borstel & Associates Inc. bought a new position in Visa in the first quarter valued at about $27,000. Harbor Asset Planning Inc. bought a new position in Visa in the second quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC lifted its holdings in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

Shares of V opened at $345.10 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $344.72 and a two-hundred day simple moving average of $347.09. The stock has a market cap of $632.50 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 2.05 and a beta of 0.90. Visa Inc. has a 52 week low of $280.78 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 earnings per share. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on V shares. Macquarie increased their target price on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays reissued an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft started coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Wells Fargo & Company set a $412.00 target price on Visa and gave the company an "overweight" rating in a report on Tuesday. Finally, Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $392.75.

Visa 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.

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