First National Trust Co Sells 2,000 Shares of Visa Inc. (NYSE:V)

Key Points

• First National Trust Co reduced its stake in Visa Inc. by 2.5%, owning 76,636 shares worth approximately $26.86 million, making Visa its 18th largest holding.
• Visa reported a quarterly earnings per share (EPS) of $2.98, exceeding analysts' expectations of $2.85, with revenues of $10.17 billion, which reflects a 14.3% increase year-over-year.
• The company announced a quarterly dividend of $0.59 per share, representing an annualized yield of 0.67%, with a payout ratio of 23.72%.

First National Trust Co trimmed its position in Visa Inc. (NYSE:V - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,636 shares of the credit-card processor's stock after selling 2,000 shares during the period. Visa makes up about 1.1% of First National Trust Co's portfolio, making the stock its 18th largest holding. First National Trust Co's holdings in Visa were worth $26,858,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Eastern Bank raised its stake in Visa by 2.9% during the 1st quarter. Eastern Bank now owns 343,625 shares of the credit-card processor's stock valued at $120,427,000 after purchasing an additional 9,565 shares during the period. Vestcor Inc boosted its holdings in Visa by 5.4% in the first quarter. Vestcor Inc now owns 63,526 shares of the credit-card processor's stock worth $22,263,000 after purchasing an additional 3,237 shares in the last quarter. Independence Financial Advisors LLC bought a new stake in Visa during the first quarter valued at about $204,000. Harvest Fund Management Co. Ltd boosted its holdings in Visa by 221.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 39,963 shares of the credit-card processor's stock valued at $13,577,000 after acquiring an additional 27,531 shares during the period. Finally, S&CO Inc. boosted its holdings in Visa by 1.3% during the first quarter. S&CO Inc. now owns 16,036 shares of the credit-card processor's stock valued at $5,619,000 after acquiring an additional 201 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE V traded down $6.66 during trading on Friday, reaching $338.81. The company's stock had a trading volume of 8,655,366 shares, compared to its average volume of 6,632,218. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $625.16 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51. The firm has a 50 day moving average price of $355.36 and a 200 day moving average price of $346.13.

Visa (NYSE:V - Get Free Report) last issued 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. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.42 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 of the company's stock, 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. Over the last quarter, insiders have sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on V. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price for the company. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Evercore ISI initiated coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $380.84.

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.