Visa Inc. (NYSE:V) Shares Sold by Hartline Investment Corp

Hartline Investment Corp cut its stake in Visa Inc. (NYSE:V - Free Report) by 24.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,063 shares of the credit-card processor's stock after selling 6,917 shares during the quarter. Visa comprises about 1.0% of Hartline Investment Corp's portfolio, making the stock its 23rd biggest position. Hartline Investment Corp's holdings in Visa were worth $7,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in V. Norges Bank purchased a new stake in shares of Visa during the 4th quarter valued at $5,171,271,000. GAMMA Investing LLC grew its stake in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. increased its position in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Visa during the 4th quarter valued at about $1,955,403,000. Finally, Northern Trust Corp raised its stake in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,108 shares of company stock valued at $36,771,200. Corporate insiders own 0.13% of the company's stock.

Visa Price Performance

NYSE V traded up $4.48 during trading hours on Friday, hitting $358.70. 3,702,810 shares of the company's stock traded hands, compared to its average volume of 6,850,467. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company has a market capitalization of $661.86 billion, a PE ratio of 36.05, a PEG ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm's 50-day moving average is $355.79 and its 200-day moving average is $341.46.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the prior year, the company earned $2.51 EPS. Visa's revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa's dividend payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler lifted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus target price of $372.84.

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.