Trust Co. of Virginia VA Trims Stock Holdings in Visa Inc. (NYSE:V)

Trust Co. of Virginia VA trimmed its stake in shares of Visa Inc. (NYSE:V) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,184 shares of the credit-card processor’s stock after selling 1,132 shares during the quarter. Visa accounts for about 1.9% of Trust Co. of Virginia VA’s holdings, making the stock its 13th largest position. Trust Co. of Virginia VA’s holdings in Visa were worth $19,734,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Westend Capital Management LLC bought a new stake in Visa during the first quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the 4th quarter valued at $25,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC increased its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.3 %

Shares of NYSE:V opened at $268.22 on Tuesday. The company has a market cap of $490.56 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 1.89 and a beta of 0.95. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $265.87 and a 200 day moving average price of $273.18.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 EPS. As a group, equities research analysts predict that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on V shares. Piper Sandler decreased their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. TD Cowen reduced their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Citigroup cut their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Bank of America reiterated a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Finally, Mizuho increased their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $308.50.

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.