Hartline Investment Corp Has $9.28 Million Holdings in Visa Inc. $V

Key Points

• Hartline Investment Corp increased its holdings in Visa Inc. by 24.1%, owning 26,146 shares with a total value of approximately $9.28 million.
• Visa reported strong quarterly earnings with $2.98 EPS, surpassing analysts' expectations, and revenues of $10.17 billion, reflecting a 14.3% year-over-year increase.
• Several analysts have upgraded Visa's ratings, with Barclays setting a price target of $408.00, indicating a positive outlook for the stock.

Hartline Investment Corp lifted its position in shares of Visa Inc. (NYSE:V - Free Report) by 24.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,146 shares of the credit-card processor's stock after purchasing an additional 5,083 shares during the quarter. Visa makes up about 1.1% of Hartline Investment Corp's investment portfolio, making the stock its 24th largest position. Hartline Investment Corp's holdings in Visa were worth $9,283,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Yeomans Consulting Group Inc. grew its holdings in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC grew its holdings in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares in the last quarter. BankPlus Wealth Management LLC grew its holdings in shares of Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock worth $1,185,000 after purchasing an additional 29 shares in the last quarter. Transcendent Capital Group LLC grew its holdings in shares of Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Finally, Wood Tarver Financial Group LLC boosted its stake in Visa by 11.1% in the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock valued at $105,000 after buying an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

V has been the topic of several recent analyst reports. Barclays reaffirmed 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. UBS Group reaffirmed a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.

Visa Price Performance

Shares of V stock opened at $344.44 on Tuesday. The stock has a 50-day moving average price of $344.47 and a 200 day moving average price of $347.11. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $631.28 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.03 and a beta of 0.90. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51.

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

Visa Dividend Announcement

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

Insider Transactions at Visa

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

Visa Company 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.

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