Visa Inc. (V) Stake Raised by Huntington National Bank
Huntington National Bank increased its stake in Visa Inc. (NYSE:V) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,740 shares of the credit-card processor’s stock after buying an additional 1,252 shares during the period. Huntington National Bank’s holdings in Visa were worth $33,173,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mercer Capital Advisers Inc. increased its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the period. Mascoma Wealth Management LLC acquired a new stake in Visa during the second quarter worth about $122,000. SpiderRock Advisors LLC increased its stake in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the period. Advantage Investment Management LLC increased its stake in Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares during the period. Finally, Delta Asset Management LLC TN increased its stake in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.
Shares of Visa Inc. (NYSE V) traded up 0.11% on Friday, hitting $103.33. The stock had a trading volume of 1,949,616 shares. The firm has a 50 day moving average price of $99.71 and a 200-day moving average price of $93.34. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $104.20. The company has a market cap of $236.26 billion, a price-to-earnings ratio of 38.43 and a beta of 0.94.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the company posted $0.69 EPS. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post $3.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. Visa’s payout ratio is 24.54%.
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A number of analysts recently issued reports on the stock. KeyCorp reissued a “buy” rating and set a $110.00 target price on shares of Visa in a research report on Friday. UBS AG reissued an “overweight” rating on shares of Visa in a research report on Thursday. Robert W. Baird reissued a “buy” rating on shares of Visa in a research report on Thursday. Vetr downgraded shares of Visa from a “hold” rating to a “sell” rating and set a $100.88 target price for the company. in a research report on Tuesday. Finally, BidaskClub raised shares of Visa from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $104.76.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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