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

Park National Corp OH reduced its stake in Visa Inc. (NYSE:V) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,700 shares of the credit-card processor’s stock after selling 4,577 shares during the period. Visa comprises 1.4% of Park National Corp OH’s investment portfolio, making the stock its 19th largest position. Park National Corp OH’s holdings in Visa were worth $36,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Unionview LLC increased its holdings in Visa by 1.5% during the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the period. FWG Holdings LLC grew its position in shares of Visa by 1.1% in the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after buying an additional 34 shares during the last quarter. St. Louis Trust Co increased its stake in shares of Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after buying an additional 34 shares during the period. Menard Financial Group LLC raised its holdings in shares of Visa by 0.6% during the third quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock valued at $1,709,000 after acquiring an additional 35 shares in the last quarter. Finally, KMG Fiduciary Partners LLC lifted its stake in Visa by 0.3% in the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after acquiring an additional 37 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Visa Stock Down 0.4 %

V opened at $311.84 on Wednesday. The stock has a market capitalization of $580.92 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 2.11 and a beta of 0.96. The firm has a 50 day moving average price of $310.90 and a 200-day moving average price of $286.27. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Piper Sandler increased their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen raised their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup upped their target price on Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $329.70.

Visa Company Profile

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.