Visa Inc. (NYSE:V) Position Lessened by First Financial Bank Trust Division

First Financial Bank Trust Division trimmed its position in shares of Visa Inc. (NYSE:V) by 13.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,142 shares of the credit-card processor’s stock after selling 7,541 shares during the period. Visa comprises approximately 1.3% of First Financial Bank Trust Division’s portfolio, making the stock its 19th biggest holding. First Financial Bank Trust Division’s holdings in Visa were worth $13,715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of V. Altshuler Shaham Ltd purchased a new stake in shares of Visa during the third quarter worth $25,000. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter valued at about $25,000. O Brien Wealth Partners LLC bought a new position in Visa during the fourth quarter valued at about $32,000. Frank Rimerman Advisors LLC bought a new position in Visa during the fourth quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC bought a new position in Visa during the fourth quarter valued at about $37,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.9 %

Shares of V opened at $273.62 on Wednesday. The stock has a market cap of $500.43 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 1.86 and a beta of 0.97. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $224.98 and a 12 month high of $290.96. The company has a 50-day moving average price of $273.97 and a two-hundred day moving average price of $272.70.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 earnings per share. Equities analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,200 shares of Visa 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,402 shares of company stock worth $9,559,382. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on V shares. Wells Fargo & Company raised their target price on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. TD Cowen started coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Redburn Atlantic restated a “neutral” rating and set a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Oppenheimer raised their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

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.