Visa Inc. $V Shares Sold by First National Bank of Hutchinson

First National Bank of Hutchinson cut its holdings in shares of Visa Inc. (NYSE:V) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,030 shares of the credit-card processor’s stock after selling 67 shares during the period. Visa makes up about 1.1% of First National Bank of Hutchinson’s investment portfolio, making the stock its 20th largest holding. First National Bank of Hutchinson’s holdings in Visa were worth $1,786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after buying an additional 57,800 shares during the period. Precedent Wealth Partners LLC lifted its position in Visa by 7.5% in the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after purchasing an additional 111 shares during the period. Consilium Wealth Advisory LLC acquired a new stake in Visa in the second quarter worth approximately $862,000. Iron Gate Global Advisors LLC lifted its position in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after purchasing an additional 3,484 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

NYSE V opened at $347.17 on Wednesday. The stock has a market capitalization of $636.29 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.04 and a beta of 0.90. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. The business’s fifty day moving average is $344.68 and its two-hundred day moving average is $347.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

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

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This trade 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on V shares. UBS Group reiterated a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Barclays reiterated an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $389.74.

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.