Hartline Investment Corp Lowers Stock Position in Visa Inc. (NYSE:V)

Hartline Investment Corp decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 24.7% in the first quarter, according to its most recent 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 accounts for about 1.0% of Hartline Investment Corp's holdings, making the stock its 23rd largest holding. Hartline Investment Corp's holdings in Visa were worth $7,382,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sellwood Investment Partners LLC acquired a new position in shares of Visa during the fourth quarter valued at approximately $41,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Visa during the fourth quarter valued at approximately $47,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa in the fourth quarter valued at approximately $47,000. Navigoe LLC purchased a new stake in shares of Visa in the fourth quarter valued at approximately $53,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

V traded up $2.36 during trading on Wednesday, reaching $356.91. The company's stock had a trading volume of 2,511,262 shares, compared to its average volume of 6,820,673. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company's fifty day moving average price is $356.43 and its 200-day moving average price is $342.00. The company has a market capitalization of $658.55 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08.

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

Visa Announces Dividend

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

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock valued at $36,771,200 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial initiated coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $372.84.

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.