New Covenant Trust Company N.A. Sells 47 Shares of Visa Inc. (NYSE:V)

New Covenant Trust Company N.A. reduced its stake in Visa Inc. (NYSE:V) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,772 shares of the credit-card processor’s stock after selling 47 shares during the period. New Covenant Trust Company N.A.’s holdings in Visa were worth $470,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in V. Livelsberger Financial Advisory bought a new stake in Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC bought a new stake in shares of Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the 2nd 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 owned by institutional investors.

Wall Street Analyst Weigh In

V has been the subject of a number of recent analyst reports. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Citigroup reduced their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley reduced their target price on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $308.50.

Visa Price Performance

NYSE V opened at $276.37 on Friday. The business’s fifty day moving average price is $265.70 and its 200-day moving average price is $273.13. The stock has a market capitalization of $503.63 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.95 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96.

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

Visa Dividend Announcement

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

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.