FARMERS & MERCHANTS TRUST Co OF LONG BEACH Buys 41 Shares of Visa Inc. (NYSE:V)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in Visa Inc. (NYSE:V) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,492 shares of the credit-card processor’s stock after purchasing an additional 41 shares during the period. Visa accounts for 1.4% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 17th biggest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Visa were worth $5,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Valeo Financial Advisors LLC lifted its holdings in shares of Visa by 1.1% in the 3rd quarter. Valeo Financial Advisors LLC now owns 62,083 shares of the credit-card processor’s stock worth $17,070,000 after purchasing an additional 666 shares in the last quarter. Nvest Financial LLC increased its position in shares of Visa by 6.4% during the third quarter. Nvest Financial LLC now owns 7,778 shares of the credit-card processor’s stock worth $2,138,000 after acquiring an additional 468 shares in the last quarter. Fermata Advisors LLC raised its holdings in shares of Visa by 4.8% in the 3rd quarter. Fermata Advisors LLC now owns 3,401 shares of the credit-card processor’s stock worth $935,000 after acquiring an additional 155 shares during the last quarter. JGP Wealth Management LLC lifted its position in Visa by 5.9% in the 3rd quarter. JGP Wealth Management LLC now owns 3,405 shares of the credit-card processor’s stock valued at $936,000 after acquiring an additional 190 shares in the last quarter. Finally, West Coast Financial LLC boosted its stake in Visa by 0.9% during the 3rd quarter. West Coast Financial LLC now owns 33,632 shares of the credit-card processor’s stock valued at $9,247,000 after purchasing an additional 297 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.1 %

Shares of NYSE V opened at $277.79 on Friday. The stock has a market capitalization of $506.22 billion, a P/E ratio of 29.71, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The firm’s 50 day simple moving average is $274.16 and its two-hundred day simple moving average is $272.72. 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 (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 earnings per share. As a group, analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is 22.25%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on V. Evercore ISI reduced their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Jefferies Financial Group dropped their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler dropped their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Finally, William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $312.04.

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.