Park National Corp OH trimmed its position in Visa Inc. (NYSE:V – Get Rating) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,712 shares of the credit-card processor's stock after selling 2,153 shares during the quarter. Visa accounts for 1.6% of Park National Corp OH's holdings, making the stock its 11th biggest holding. Park National Corp OH's holdings in Visa were worth $34,005,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Epoch Investment Partners Inc. raised its position in Visa by 8.8% in the fourth quarter. Epoch Investment Partners Inc. now owns 114,938 shares of the credit-card processor's stock valued at $24,908,000 after purchasing an additional 9,335 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Visa by 8.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 44,497 shares of the credit-card processor's stock valued at $9,643,000 after buying an additional 3,403 shares during the period. PFS Investments Inc. grew its stake in Visa by 11.3% during the fourth quarter. PFS Investments Inc. now owns 54,932 shares of the credit-card processor's stock worth $11,904,000 after purchasing an additional 5,577 shares during the period. Financial Advisory Service Inc. grew its stake in Visa by 66.5% in the fourth quarter. Financial Advisory Service Inc. now owns 3,180 shares of the credit-card processor's stock valued at $689,000 after acquiring an additional 1,270 shares during the period. Finally, Life Planning Partners Inc bought a new position in shares of Visa in the fourth quarter valued at approximately $53,000. 81.49% of the stock is owned by institutional investors and hedge funds.
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Visa Stock Performance
Visa stock opened at $193.30 on Friday. The firm has a 50 day simple moving average of $207.74 and a 200-day simple moving average of $207.44. Visa Inc. has a 1-year low of $185.91 and a 1-year high of $236.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market cap of $365.42 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 1.58 and a beta of 0.90.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.50 annualized dividend and a dividend yield of 0.78%. Visa's dividend payout ratio (DPR) is 22.12%.
Analysts Set New Price Targets
A number of analysts recently commented on V shares. Susquehanna Bancshares dropped their price target on Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Piper Sandler lowered their target price on Visa from $239.00 to $204.00 and set an "overweight" rating for the company in a research note on Wednesday, July 6th. Mizuho lowered their price target on Visa from $235.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, July 1st. Morgan Stanley upped their target price on Visa from $284.00 to $291.00 and gave the stock an "overweight" rating in a report on Wednesday, July 27th. Finally, Susquehanna cut their price target on Visa from $290.00 to $260.00 in a research note on Thursday, July 28th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $257.64.
Insider Activity
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the completion of the transaction, the chief executive officer now owns 156,887 shares of the company's stock, valued at approximately $33,277,301.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company's stock.
About Visa
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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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