Visa Inc. $V Stake Cut by Hantz Financial Services Inc.

Hantz Financial Services Inc. lessened its holdings in shares of Visa Inc. (NYSE:V) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 183,276 shares of the credit-card processor’s stock after selling 9,053 shares during the quarter. Visa makes up 1.1% of Hantz Financial Services Inc.’s investment portfolio, making the stock its 16th largest holding. Hantz Financial Services Inc.’s holdings in Visa were worth $65,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the 2nd quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new stake in Visa in the 1st quarter worth approximately $27,000. Harbor Asset Planning Inc. acquired a new position in shares of Visa in the second quarter worth $29,000. Finally, Cranbrook Wealth Management LLC increased its stake in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE:V opened at $341.07 on Friday. The business has a 50 day moving average price of $344.78 and a 200 day moving average price of $348.31. Visa Inc. has a twelve month low of $287.19 and a twelve month high of $375.51. The company has a market cap of $625.11 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.06 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the company earned $2.71 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is presently 23.11%.

Analysts Set New Price Targets

V has been the topic of a number of research reports. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price objective (up previously from $398.00) on shares of Visa in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Finally, 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 note on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Insider Buying and Selling at Visa

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