H&H Retirement Design & Management INC Reduces Stock Position in Visa Inc. $V

H&H Retirement Design & Management INC reduced its position in shares of Visa Inc. (NYSE:V) by 9.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,075 shares of the credit-card processor’s stock after selling 214 shares during the period. H&H Retirement Design & Management INC’s holdings in Visa were worth $728,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Morton Capital Management LLC CA boosted its holdings in shares of Visa by 7.6% during the second quarter. Morton Capital Management LLC CA now owns 4,133 shares of the credit-card processor’s stock worth $1,467,000 after purchasing an additional 291 shares during the period. Valmark Advisers Inc. boosted its holdings in shares of Visa by 7.1% during the second quarter. Valmark Advisers Inc. now owns 7,081 shares of the credit-card processor’s stock worth $2,514,000 after purchasing an additional 469 shares during the period. Hall Capital Management Co. Inc. boosted its holdings in shares of Visa by 1.2% during the second quarter. Hall Capital Management Co. Inc. now owns 10,276 shares of the credit-card processor’s stock worth $3,648,000 after purchasing an additional 124 shares during the period. LifeSteps Financial Inc. boosted its holdings in shares of Visa by 7.5% during the second quarter. LifeSteps Financial Inc. now owns 1,190 shares of the credit-card processor’s stock worth $423,000 after purchasing an additional 83 shares during the period. Finally, Nelson Capital Management LLC boosted its holdings in shares of Visa by 1.1% during the second quarter. Nelson Capital Management LLC now owns 30,465 shares of the credit-card processor’s stock worth $10,817,000 after purchasing an additional 329 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on V shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. UBS Group restated a “buy” rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Truist Financial lowered 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, Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $389.00.

Visa Price Performance

Shares of NYSE V opened at $343.63 on Friday. Visa Inc. has a fifty-two week low of $275.37 and a fifty-two week high of $375.51. The company has a 50 day simple moving average of $343.77 and a two-hundred day simple moving average of $346.99. The company has a market capitalization of $629.79 billion, a price-to-earnings ratio of 33.56, a P/E/G ratio of 2.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the firm earned $2.42 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Insider Buying and Selling

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

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.