Horizon Investment Services LLC Sells 622 Shares of Visa Inc. $V

Horizon Investment Services LLC decreased its position in Visa Inc. (NYSE:V) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,416 shares of the credit-card processor’s stock after selling 622 shares during the quarter. Visa comprises approximately 2.6% of Horizon Investment Services LLC’s holdings, making the stock its 10th largest position. Horizon Investment Services LLC’s holdings in Visa were worth $5,829,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Nuveen LLC purchased a new position in Visa in the first quarter valued at about $3,518,533,000. Vanguard Group Inc. raised its position in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP lifted its stake in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in Visa in the first quarter worth approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Visa by 7.2% during the 1st 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 last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,897 shares of company stock valued at $8,164,561 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of analyst reports. KeyCorp reissued an “overweight” rating and set a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. UBS Group set a $425.00 target price on Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Finally, Robert W. Baird set a $425.00 target price on shares of Visa in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $400.00.

Visa Trading Down 0.3%

Shares of V opened at $335.91 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. The company has a market cap of $615.66 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.04 and a beta of 0.87. The stock has a fifty day moving average price of $343.52 and a two-hundred day moving average price of $348.62. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating 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 firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the company earned $2.71 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is currently 23.11%.

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.