Hartford Investment Management Co. Trims Position in Visa Inc. $V

Hartford Investment Management Co. trimmed its position in shares of Visa Inc. (NYSE:VFree Report) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,482 shares of the credit-card processor’s stock after selling 2,047 shares during the period. Visa accounts for 1.0% of Hartford Investment Management Co.’s portfolio, making the stock its 13th largest holding. Hartford Investment Management Co.’s holdings in Visa were worth $34,188,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of V. Clayton Financial Group LLC lifted its position in shares of Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after acquiring an additional 58 shares in the last quarter. PayPay Securities Corp boosted its stake in shares of Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Visa during the fourth quarter worth about $26,000. Parvin Asset Management LLC raised its stake in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management bought a new stake in Visa during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.8%

Shares of NYSE V opened at $326.41 on Wednesday. The firm’s 50-day moving average price is $311.08 and its 200-day moving average price is $326.25. 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 stock has a market capitalization of $585.50 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 1.73 and a beta of 0.78. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $375.51.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.76 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 13.08 EPS for the current fiscal year.

Visa declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend 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 News Summary

Here are the key news stories impacting Visa this week:

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the transaction, the director owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

V has been the subject of several recent analyst reports. Truist Financial set a $371.00 price target on Visa and gave the stock a “buy” rating in a research note on Tuesday. Bank of America initiated coverage on shares of Visa in a research report on Thursday, March 5th. They set a “buy” rating and a $410.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating and issued a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. Citigroup dropped their target price on shares of Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of Visa in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Buy” and a consensus target price of $387.67.

Read Our Latest Stock Analysis on V

Visa Profile

(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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