Philadelphia Trust Co. Sells 5,551 Shares of Visa Inc. $V

Key Points

• Philadelphia Trust Co. reduced its stake in Visa Inc. by 24.5% during the first quarter, holding 17,109 shares valued at approximately $5.996 million as per the latest SEC filing.
• Visa reported earnings of $2.98 per share for the quarter, surpassing analysts' expectations, with a revenue of $10.17 billion, indicating a 14.3% year-over-year increase.
• Visa announced a $0.59 quarterly dividend to be paid on September 2nd, representing a 0.7% yield with a payout ratio of 23.05%.

Philadelphia Trust Co. lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 24.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,109 shares of the credit-card processor's stock after selling 5,551 shares during the period. Philadelphia Trust Co.'s holdings in Visa were worth $5,996,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. von Borstel & Associates Inc. bought a new stake in shares of Visa during the first quarter worth about $27,000. Measured Risk Portfolios Inc. bought a new stake in Visa in the 4th quarter worth about $47,000. Navigoe LLC bought a new stake in Visa in the 4th quarter worth about $53,000. O Brien Wealth Partners LLC bought a new stake in Visa in the 1st quarter worth about $54,000. Finally, Global X Japan Co. Ltd. bought a new stake in Visa in the 1st quarter worth about $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Price Performance

NYSE:V traded down $1.05 during trading hours on Friday, hitting $344.44. The stock had a trading volume of 4,945,855 shares, compared to its average volume of 6,424,159. The company has a 50 day simple moving average of $350.17 and a two-hundred day simple moving average of $347.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a one year low of $265.23 and a one year high of $375.51. The firm has a market capitalization of $631.29 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last announced its quarterly 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 net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the firm earned $2.42 EPS. The business's quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Macquarie upped their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction 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 sale, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,100 shares of company stock valued at $27,643,224. Insiders own 0.13% of the company's stock.

Visa Company 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.