Hartline Investment Corp Sells 6,917 Shares of Visa Inc. (NYSE:V)

Hartline Investment Corp lowered its holdings in Visa Inc. (NYSE:V - Free Report) by 24.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 21,063 shares of the credit-card processor's stock after selling 6,917 shares during the quarter. Visa comprises 1.0% of Hartline Investment Corp's investment portfolio, making the stock its 23rd biggest holding. Hartline Investment Corp's holdings in Visa were worth $7,382,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Sellwood Investment Partners LLC acquired a new position in shares of Visa during the 4th quarter worth $41,000. Mountain Hill Investment Partners Corp. acquired a new position in Visa during the fourth quarter worth about $47,000. Measured Risk Portfolios Inc. purchased a new position in Visa in the fourth quarter valued at about $47,000. Navigoe LLC purchased a new position in Visa in the fourth quarter valued at about $53,000. Finally, O Brien Wealth Partners LLC acquired a new stake in shares of Visa during the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,108 shares of company stock worth $36,771,200. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target for the company. BMO Capital Markets raised their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Finally, Susquehanna restated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average target price of $372.84.

Visa Stock Performance

NYSE:V traded down $2.21 during midday trading on Monday, reaching $356.65. The stock had a trading volume of 5,135,922 shares, compared to its average volume of 6,843,615. The stock has a market capitalization of $658.08 billion, a P/E ratio of 35.84, a PEG ratio of 2.43 and a beta of 0.92. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. 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 fifty day simple moving average is $355.79 and its 200-day simple moving average is $341.65.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis 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 currently 23.72%.

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.