Park National Corp OH Has $36.33 Million Stock Holdings in Visa Inc. $V

Key Points

• Park National Corp OH reduced its holdings in Visa Inc. by 6.1% in Q2, owning 102,321 shares valued at approximately $36.33 million, making Visa its 26th largest position.
• Recent insider activity includes General Counsel Julie B. Rottenberg selling 2,027 shares and CEO Ryan Mcinerney selling 8,630 shares of Visa, indicating significant decreases in their respective positions.
• Visa reported earnings of $2.98 EPS for the most recent quarter, surpassing estimates, and announced a dividend of $0.59 per share, yielding 0.7% annually.

Park National Corp OH lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,321 shares of the credit-card processor's stock after selling 6,616 shares during the quarter. Visa makes up approximately 1.2% of Park National Corp OH's investment portfolio, making the stock its 26th largest position. Park National Corp OH's holdings in Visa were worth $36,329,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Keystone Global Partners LLC bought a new position in Visa in the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new position in Visa in the 1st quarter valued at approximately $27,000. 1 North Wealth Services LLC bought a new position in Visa in the 1st quarter valued at approximately $38,000. Anderson Financial Strategies LLC bought a new position in Visa in the 1st quarter valued at approximately $53,000. Finally, O Brien Wealth Partners LLC bought a new position in Visa in the 1st quarter valued at approximately $54,000. Institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following 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. Company insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of V stock opened at $339.33 on Friday. The company has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. 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 50 day moving average of $347.03 and a 200-day moving average of $346.94.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Barclays restated an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. Finally, Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

About Visa

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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