Visa Inc. $V Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co lowered its position in Visa Inc. (NYSE:V) by 1.3% during the second quarter, Holdings Channel.com reports. The fund owned 5,306 shares of the credit-card processor’s stock after selling 71 shares during the quarter. Visa accounts for 0.9% of Heartland Bank & Trust Co’s holdings, making the stock its 24th largest holding. Heartland Bank & Trust Co’s holdings in Visa were worth $1,884,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Visa during the first quarter valued at approximately $3,518,533,000. Vanguard Group Inc. lifted its holdings in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Visa during the first quarter worth about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Visa Stock Performance

V stock opened at $341.90 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $626.63 billion, a P/E ratio of 33.39, a P/E/G ratio of 1.99 and a beta of 0.90. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51. The stock’s 50 day simple moving average is $344.30 and its 200 day simple moving average is $346.83.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Truist Financial cut their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, Barclays reiterated an “overweight” rating and issued a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $389.00.

Visa Profile

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.