Farmers Trust Co. Sells 1,220 Shares of Visa Inc. (NYSE:V)

Farmers Trust Co. lowered its position in Visa Inc. (NYSE:V) by 4.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,738 shares of the credit-card processor’s stock after selling 1,220 shares during the period. Visa comprises approximately 1.4% of Farmers Trust Co.’s holdings, making the stock its 13th largest position. Farmers Trust Co.’s holdings in Visa were worth $7,183,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Livelsberger Financial Advisory purchased a new stake in Visa in the 4th quarter worth $25,000. Altshuler Shaham Ltd purchased a new stake in Visa in the 3rd quarter worth $25,000. O Brien Wealth Partners LLC purchased a new stake in Visa in the 4th quarter worth $32,000. Frank Rimerman Advisors LLC purchased a new stake in Visa in the 4th quarter worth $33,000. Finally, Valued Wealth Advisors LLC purchased a new stake in Visa in the 4th quarter worth $37,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on V shares. Oppenheimer boosted their price target on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Evercore ISI upped their target price on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Macquarie upped their target price on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Wells Fargo & Company upped their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Robert W. Baird upped their target price on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $303.76.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 34,402 shares of company stock valued at $9,559,382 over the last ninety days. 0.19% of the stock is owned by company insiders.

Visa Stock Performance

Shares of NYSE:V opened at $276.85 on Friday. The firm has a market cap of $506.34 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. The firm’s 50 day simple moving average is $273.99 and its 200-day simple moving average is $272.74. Visa Inc. has a one year low of $224.98 and a one year high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company posted $2.09 earnings per share. As a group, equities analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is 23.24%.

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.