First Business Financial Services Inc. Sells 241 Shares of Visa Inc. (NYSE:V)

First Business Financial Services Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 14.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,415 shares of the credit-card processor’s stock after selling 241 shares during the period. First Business Financial Services Inc.’s holdings in Visa were worth $371,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank purchased a new stake in shares of Visa during the first quarter valued at approximately $1,212,000. Absolute Capital Management LLC purchased a new stake in Visa in the first quarter worth $404,000. SageView Advisory Group LLC lifted its stake in Visa by 40.4% in the fourth quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock worth $6,967,000 after acquiring an additional 7,236 shares during the period. Davidson Capital Management Inc. lifted its stake in Visa by 0.5% in the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after acquiring an additional 44 shares during the period. Finally, Empirical Finance LLC lifted its stake in Visa by 4.4% in the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after acquiring an additional 1,914 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

NYSE:V traded down $2.45 during trading hours on Thursday, reaching $278.04. The stock had a trading volume of 1,538,027 shares, compared to its average volume of 7,096,899. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $290.96. The company has a 50 day moving average price of $265.94 and a two-hundred day moving average price of $273.10. The stock has a market capitalization of $508.52 billion, a PE ratio of 31.32, a PEG ratio of 1.95 and a beta of 0.95.

Visa (NYSE:V) last released its 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 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 revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. 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 is 23.24%.

Analysts Set New Price Targets

A number of analysts recently commented on V shares. Piper Sandler dropped their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Finally, Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.54.

Insiders Place Their Bets

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

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.