Park National Corp OH Reduces Stock Position in Visa Inc. (NYSE:V)

Park National Corp OH cut its stake in Visa Inc. (NYSE:V) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 121,277 shares of the credit-card processor’s stock after selling 8,489 shares during the quarter. Visa makes up about 1.2% of Park National Corp OH’s portfolio, making the stock its 26th largest position. Park National Corp OH’s holdings in Visa were worth $33,345,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Livelsberger Financial Advisory bought a new position in Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the first quarter worth $25,000. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Visa during the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC grew its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price target on shares of Visa in a research report on Wednesday, September 25th. Compass Point began coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. TD Cowen lowered their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.93.

Visa Price Performance

Shares of Visa stock opened at $277.01 on Thursday. The company’s fifty day simple moving average is $272.17 and its two-hundred day simple moving average is $273.10. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The firm has a market cap of $506.63 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by 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.