Huntington National Bank Sells 7,977 Shares of Visa Inc. $V

Huntington National Bank trimmed its stake in shares of Visa Inc. (NYSE:V) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 527,389 shares of the credit-card processor’s stock after selling 7,977 shares during the period. Visa makes up 1.1% of Huntington National Bank’s investment portfolio, making the stock its 20th largest holding. Huntington National Bank’s holdings in Visa were worth $180,040,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. raised its holdings in Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after purchasing an additional 477 shares during the period. Matrix Asset Advisors Inc. NY lifted its position in Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after purchasing an additional 164 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Visa by 5.1% during the second quarter. Sequoia Financial Advisors LLC now owns 231,510 shares of the credit-card processor’s stock valued at $82,198,000 after purchasing an additional 11,334 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on V. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $395.00 price objective on shares of Visa in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, January 21st. Truist Financial set a $372.00 price target on shares of Visa in a report on Tuesday, February 10th. Freedom Capital upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Finally, Evercore set a $380.00 price objective on shares of Visa in a research report on Friday, December 12th. Seven analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $391.43.

Visa Stock Performance

NYSE:V opened at $319.07 on Friday. The company has a market cap of $579.17 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 1.81 and a beta of 0.79. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The stock’s 50 day simple moving average is $333.00 and its two-hundred day simple moving average is $338.12. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11.

Visa (NYSE:V) last posted its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The firm had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the company earned $2.75 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is 25.14%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.