Huntington National Bank Has $96.92 Million Position in Visa Inc (NYSE:V)

Huntington National Bank boosted its position in Visa Inc (NYSE:V) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 501,716 shares of the credit-card processor’s stock after buying an additional 13,370 shares during the period. Visa makes up approximately 1.5% of Huntington National Bank’s portfolio, making the stock its 9th biggest position. Huntington National Bank’s holdings in Visa were worth $96,916,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in Visa by 4.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 27,495,717 shares of the credit-card processor’s stock valued at $4,430,109,000 after buying an additional 1,121,525 shares in the last quarter. Capital International Investors boosted its stake in Visa by 6.1% during the 1st quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock valued at $3,525,557,000 after purchasing an additional 1,250,002 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Visa by 0.6% during the 1st quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock valued at $3,273,812,000 after purchasing an additional 116,273 shares during the last quarter. Edgewood Management LLC boosted its stake in Visa by 1.9% during the 1st quarter. Edgewood Management LLC now owns 13,171,726 shares of the credit-card processor’s stock valued at $2,122,228,000 after purchasing an additional 243,957 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Visa by 3.0% during the 1st quarter. Legal & General Group Plc now owns 10,927,768 shares of the credit-card processor’s stock valued at $1,762,092,000 after purchasing an additional 320,352 shares during the last quarter. 81.41% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.00, for a total value of $1,365,000.00. Following the completion of the transaction, the chief executive officer now directly owns 130,090 shares of the company’s stock, valued at $25,367,550. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Ryan Mcinerney sold 26,150 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total transaction of $5,017,400.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,429 shares of company stock valued at $9,746,754. 0.19% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on V shares. Citigroup lifted their price target on Visa from $205.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. BMO Capital Markets cut their target price on Visa from $234.00 to $213.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. JPMorgan Chase & Co. dropped their price objective on Visa from $203.00 to $186.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wells Fargo & Co upped their price objective on Visa from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Jefferies Financial Group downgraded Visa from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $180.00 in a research note on Wednesday, April 15th. Seven investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $207.56.

Shares of Visa stock traded down $3.66 during trading on Friday, reaching $190.40. 14,186,004 shares of the stock were exchanged, compared to its average volume of 7,102,219. The company has a quick ratio of 1.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $194.04 and its 200 day moving average is $187.14. The firm has a market cap of $377.15 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. Visa Inc has a 1 year low of $133.93 and a 1 year high of $214.17.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. Visa’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 earnings per share. Equities analysts forecast that Visa Inc will post 4.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s dividend payout ratio is currently 22.06%.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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