Orrstown Financial Services Inc. Has $2.88 Million Stock Holdings in Visa Inc. (NYSE:V)

Orrstown Financial Services Inc. trimmed its position in shares of Visa Inc. (NYSE:V) by 6.7% during the first quarter, HoldingsChannel.com reports. The firm owned 8,215 shares of the credit-card processor’s stock after selling 589 shares during the period. Visa makes up approximately 0.7% of Orrstown Financial Services Inc.’s portfolio, making the stock its 16th biggest holding. Orrstown Financial Services Inc.’s holdings in Visa were worth $2,879,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors raised its position in shares of Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the last quarter. Capital World Investors raised its position in shares of Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 1.0%

NYSE V opened at $370.44 on Friday. The business has a 50 day moving average price of $345.45 and a 200-day moving average price of $335.70. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $371.00. The company has a market cap of $683.52 billion, a price-to-earnings ratio of 37.34, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the company posted $2.51 earnings per share. Visa’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. This represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,162 shares of company stock worth $58,645,479. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on V. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Truist Financial initiated coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating and a $400.00 price target on the stock. Oppenheimer reissued an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target on the stock. Finally, BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $372.80.

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.