Visa Inc. $V Holdings Decreased by Farmers Trust Co.

Key Points

• Farmers Trust Co. has reduced its holdings in Visa Inc. by 13.2% during Q2, owning 21,568 shares valued at approximately $7.66 million, making it the 16th largest position in their portfolio.
• CEO Ryan Mcinerney sold 8,630 shares of Visa at an average price of $353.82, resulting in a 94.14% decrease in his ownership of the stock.
• Wall Street analysts are optimistic about Visa, with an average target price of $385.96 and the majority of analysts rating the stock as a "Buy."

Farmers Trust Co. decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 13.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,568 shares of the credit-card processor's stock after selling 3,276 shares during the quarter. Visa accounts for approximately 1.4% of Farmers Trust Co.'s holdings, making the stock its 16th biggest position. Farmers Trust Co.'s holdings in Visa were worth $7,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in shares of Visa by 1.7% during the second quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,805 shares of the credit-card processor's stock valued at $996,000 after buying an additional 46 shares in the last quarter. Golden State Equity Partners grew its holdings in shares of Visa by 8.9% during the second quarter. Golden State Equity Partners now owns 12,175 shares of the credit-card processor's stock valued at $4,323,000 after buying an additional 999 shares in the last quarter. Cherrydale Wealth Management LLC boosted its position in Visa by 7.0% during the second quarter. Cherrydale Wealth Management LLC now owns 1,627 shares of the credit-card processor's stock valued at $578,000 after purchasing an additional 107 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in Visa by 2.0% during the second quarter. Oliver Luxxe Assets LLC now owns 16,600 shares of the credit-card processor's stock valued at $5,894,000 after purchasing an additional 322 shares during the last quarter. Finally, IronOak Wealth LLC. acquired a new stake in Visa during the second quarter valued at $1,785,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The shares were 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 $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on V. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Finally, Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Trading Down 1.7%

Shares of V opened at $338.66 on Wednesday. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. 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 firm has a market capitalization of $620.70 billion, a price-to-earnings ratio of 33.07, a P/E/G ratio of 2.29 and a beta of 0.92. The stock's 50-day moving average price is $345.41 and its 200 day moving average price is $346.32.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (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 firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the company posted $2.42 earnings per share. The company's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

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.

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