Huntington National Bank Increases Stake in Visa Inc (V)

Huntington National Bank grew its holdings in Visa Inc (NYSE:V) by 6.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 422,230 shares of the credit-card processor’s stock after buying an additional 26,040 shares during the period. Visa accounts for approximately 1.0% of Huntington National Bank’s portfolio, making the stock its 20th largest position. Huntington National Bank’s holdings in Visa were worth $63,373,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Fundsmith Equity Fund L.P. purchased a new position in Visa during the second quarter worth about $757,597,000. Baird Financial Group Inc. raised its holdings in Visa by 2.2% during the second quarter. Baird Financial Group Inc. now owns 944,191 shares of the credit-card processor’s stock worth $125,058,000 after purchasing an additional 20,084 shares in the last quarter. Lee Financial Group Hawaii Inc. increased its holdings in Visa by 1.6% in the second quarter. Lee Financial Group Hawaii Inc. now owns 24,147 shares of the credit-card processor’s stock valued at $3,198,000 after buying an additional 388 shares in the last quarter. Credit Agricole S A increased its holdings in Visa by 0.8% in the second quarter. Credit Agricole S A now owns 169,611 shares of the credit-card processor’s stock valued at $22,465,000 after buying an additional 1,312 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC increased its holdings in Visa by 2.1% in the second quarter. Wealthstreet Investment Advisors LLC now owns 145,294 shares of the credit-card processor’s stock valued at $19,244,000 after buying an additional 2,930 shares in the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.

In related news, EVP William M. Sheedy sold 99,636 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the sale, the executive vice president now owns 296,925 shares in the company, valued at $41,355,714. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total transaction of $484,774.01. Following the sale, the executive vice president now owns 241,983 shares in the company, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. Insiders sold 119,395 shares of company stock worth $16,697,489 over the last quarter. Company insiders own 0.14% of the company’s stock.

V has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a report on Tuesday, September 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $166.00 target price on shares of Visa in a report on Thursday, October 25th. Royal Bank of Canada increased their target price on shares of Visa to $170.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. BMO Capital Markets initiated coverage on shares of Visa in a report on Wednesday, September 26th. They issued an “outperform” rating and a $187.00 target price for the company. Finally, Barclays initiated coverage on shares of Visa in a report on Wednesday, November 14th. They issued an “overweight” rating and a $170.00 target price for the company. Two analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. Visa presently has an average rating of “Buy” and a consensus target price of $156.09.

V stock opened at $137.11 on Friday. The company has a market capitalization of $279.64 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. Visa Inc has a 12 month low of $111.02 and a 12 month high of $151.56. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.58.

Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.44 billion. Visa had a net margin of 49.98% and a return on equity of 38.00%. Equities analysts anticipate that Visa Inc will post 5.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This is a positive change from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio is currently 21.69%.

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Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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