HTLF Bank Reduces Position in Visa Inc. (NYSE:V)

by · The Cerbat Gem

HTLF Bank cut its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,726 shares of the credit-card processor’s stock after selling 556 shares during the quarter. HTLF Bank’s holdings in Visa were worth $4,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in V. Livelsberger Financial Advisory bought a new stake in shares of Visa during the fourth quarter valued at about $25,000. Westend Capital Management LLC bought a new stake in shares of Visa during the first quarter valued at about $25,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Visa in the second quarter worth approximately $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. BMO Capital Markets upped their price objective on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price target on shares of Visa in a research report on Wednesday, September 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Finally, Jefferies Financial Group reduced their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $313.81.

Get Our Latest Research Report on V

Visa Stock Down 0.5 %

Shares of NYSE V traded down $1.39 during midday trading on Tuesday, hitting $279.29. The stock had a trading volume of 5,806,344 shares, compared to its average volume of 7,106,448. The business’s 50 day moving average is $274.65 and its 200-day moving average is $272.63. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $510.80 billion, a P/E ratio of 31.49, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 EPS. As a group, analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Visa Company Profile

(Free Report)

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.

Further Reading

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