Huntington National Bank Has $184.29 Million Stake in Visa Inc. $V

Huntington National Bank decreased its holdings in Visa Inc. (NYSE:VFree Report) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 525,473 shares of the credit-card processor’s stock after selling 1,916 shares during the quarter. Visa accounts for about 1.1% of Huntington National Bank’s portfolio, making the stock its 18th largest holding. Huntington National Bank’s holdings in Visa were worth $184,289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of V. Clayton Financial Group LLC raised its stake in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp raised its stake in Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. acquired a new stake in Visa in the 4th quarter worth about $26,000. Parvin Asset Management LLC raised its stake in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in Visa in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa News Summary

Here are the key news stories impacting Visa this week:

Wall Street Analysts Forecast Growth

Several analysts have weighed in on V shares. Bank of America started coverage on shares of Visa in a research note on Thursday, March 5th. They issued a “buy” rating and a $410.00 price objective for the company. Freedom Capital upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Weiss Ratings cut shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Finally, Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price for the company in a research report on Monday, February 2nd. Six research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $386.70.

View Our Latest Research Report on V

Visa Trading Up 0.4%

Shares of Visa stock opened at $327.71 on Thursday. The firm has a market capitalization of $587.83 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 1.74 and a beta of 0.78. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $313.98 and its 200 day moving average is $325.11. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $375.51.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same period in the previous year, the firm posted $2.76 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 12th. Visa’s payout ratio is presently 23.34%.

Visa announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,744 shares of company stock valued at $14,356,010 in the last ninety days. 0.12% of the stock is currently owned by insiders.

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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