First National Bank of Hutchinson Trims Holdings in Visa Inc. (NYSE:V)

First National Bank of Hutchinson trimmed its position in Visa Inc. (NYSE:V) by 8.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,905 shares of the credit-card processor’s stock after selling 380 shares during the quarter. First National Bank of Hutchinson’s holdings in Visa were worth $1,074,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in V. POM Investment Strategies LLC grew its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC purchased a new stake in Visa during the 2nd quarter valued at approximately $35,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa during the 2nd quarter valued at approximately $35,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. BMO Capital Markets increased their target price on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Bank of America raised their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Trading Down 0.2 %

Shares of NYSE:V opened at $283.22 on Friday. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The company has a market capitalization of $517.99 billion, a PE ratio of 31.64, a PEG ratio of 1.96 and a beta of 0.96. The business has a 50 day moving average of $278.40 and a two-hundred day moving average of $273.10. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the company posted $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

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.