Farmers National Bank Sells 92 Shares of Visa Inc. (NYSE:V)

Farmers National Bank trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,189 shares of the credit-card processor’s stock after selling 92 shares during the period. Visa comprises approximately 1.9% of Farmers National Bank’s investment portfolio, making the stock its 12th largest holding. Farmers National Bank’s holdings in Visa were worth $6,349,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in V. RiverFront Investment Group LLC grew its holdings in Visa by 9.8% during the second quarter. RiverFront Investment Group LLC now owns 24,195 shares of the credit-card processor’s stock valued at $6,351,000 after purchasing an additional 2,168 shares during the period. Souders Financial Advisors lifted its position in shares of Visa by 1.3% during the 2nd quarter. Souders Financial Advisors now owns 21,594 shares of the credit-card processor’s stock valued at $5,668,000 after buying an additional 272 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Visa during the 2nd quarter valued at $681,000. KPP Advisory Services LLC grew its stake in shares of Visa by 2.7% during the 2nd quarter. KPP Advisory Services LLC now owns 4,219 shares of the credit-card processor’s stock worth $1,107,000 after acquiring an additional 112 shares during the period. Finally, New Century Financial Group LLC increased its holdings in Visa by 23.0% in the 2nd quarter. New Century Financial Group LLC now owns 5,627 shares of the credit-card processor’s stock worth $1,477,000 after acquiring an additional 1,054 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Price Performance

Shares of NYSE:V opened at $277.62 on Wednesday. The company’s fifty day moving average price is $271.71 and its 200-day moving average price is $273.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $507.75 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.94 and a beta of 0.96. Visa Inc. has a one year low of $227.78 and a one year high of $293.07.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the firm earned $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is 23.24%.

Analyst Ratings Changes

Several equities research analysts have commented on V shares. Compass Point assumed coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. TD Cowen dropped their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $322.00 price objective on shares of Visa in a report on Wednesday, September 25th. Oppenheimer initiated coverage on shares of Visa in a report on Tuesday. They set an “outperform” rating and a $318.00 target price on the stock. Finally, Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $310.93.

Visa 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.