Iowa State Bank Has $6.66 Million Stock Position in Visa Inc. $V

Iowa State Bank lifted its holdings in Visa Inc. (NYSE:V) by 0.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,743 shares of the credit-card processor’s stock after purchasing an additional 83 shares during the quarter. Visa accounts for approximately 1.3% of Iowa State Bank’s investment portfolio, making the stock its 23rd biggest holding. Iowa State Bank’s holdings in Visa were worth $6,655,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Relyea Zuckerberg Hanson LLC increased its stake in Visa by 3.2% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 14,881 shares of the credit-card processor’s stock valued at $5,283,000 after buying an additional 462 shares during the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Visa by 3.4% in the 2nd quarter. Belpointe Asset Management LLC now owns 20,212 shares of the credit-card processor’s stock valued at $7,176,000 after acquiring an additional 672 shares in the last quarter. Confluence Wealth Services Inc. grew its holdings in shares of Visa by 0.3% in the 2nd quarter. Confluence Wealth Services Inc. now owns 20,808 shares of the credit-card processor’s stock valued at $7,388,000 after acquiring an additional 58 shares in the last quarter. Duncan Williams Asset Management LLC boosted its position in Visa by 1.9% during the second quarter. Duncan Williams Asset Management LLC now owns 10,317 shares of the credit-card processor’s stock valued at $3,663,000 after purchasing an additional 193 shares during the last quarter. Finally, Headland Capital LLC boosted its position in Visa by 6.4% during the second quarter. Headland Capital LLC now owns 849 shares of the credit-card processor’s stock valued at $301,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Price Performance

Shares of NYSE V opened at $346.66 on Friday. The stock has a market capitalization of $635.36 billion, a PE ratio of 33.85, a P/E/G ratio of 2.08 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a fifty-two week low of $275.35 and a fifty-two week high of $375.51. The business has a fifty day moving average price of $343.68 and a two-hundred day moving average price of $346.98.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is presently 23.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an “outperform” rating in a research report on Monday. Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Finally, Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $389.00.

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.