FARMERS & MERCHANTS TRUST Co OF LONG BEACH Purchases 1,369 Shares of Visa Inc. $V

Key Points

• FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in Visa Inc. by 6.5%, acquiring an additional 1,369 shares during the second quarter, bringing their total to 22,306 shares worth approximately $7.92 million.
• Visa's shares opened at $348.21, with a one-year high of $375.51 and a one-year low of $273.24, reflecting a strong market presence.
• The company recently declared a quarterly dividend of $0.59, with a 0.7% yield, and reported impressive earnings with $10.17 billion in revenue and an EPS of $2.98 for the last quarter.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 6.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,306 shares of the credit-card processor's stock after acquiring an additional 1,369 shares during the period. Visa comprises about 1.7% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH's portfolio, making the stock its 12th biggest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH's holdings in Visa were worth $7,920,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Brighton Jones LLC grew its position in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares during the last quarter. Apella Capital LLC grew its position in shares of Visa by 67.7% in the 1st quarter. Apella Capital LLC now owns 2,989 shares of the credit-card processor's stock valued at $994,000 after buying an additional 1,207 shares during the last quarter. Amplius Wealth Advisors LLC grew its position in shares of Visa by 4.4% in the 1st quarter. Amplius Wealth Advisors LLC now owns 2,307 shares of the credit-card processor's stock valued at $809,000 after buying an additional 98 shares during the last quarter. Finally, Greenfield Savings Bank grew its position in shares of Visa by 2.3% in the 1st quarter. Greenfield Savings Bank now owns 5,468 shares of the credit-card processor's stock valued at $1,916,000 after buying an additional 124 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on V. Erste Group Bank lowered Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Morgan Stanley upped their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Visa Stock Up 2.0%

Shares of Visa stock opened at $348.21 on Thursday. Visa Inc. has a one year low of $273.24 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock's 50-day moving average is $344.09 and its 200 day moving average is $346.52. The firm has a market cap of $638.20 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 2.27 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the company earned $2.42 EPS. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is presently 23.05%.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company's stock.

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.

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