Hartford Financial Management Inc. Has $3.98 Million Position in Visa Inc. $V

Hartford Financial Management Inc. lowered its holdings in shares of Visa Inc. (NYSE:V) by 24.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,205 shares of the credit-card processor’s stock after selling 3,704 shares during the period. Visa comprises 1.1% of Hartford Financial Management Inc.’s portfolio, making the stock its 28th largest holding. Hartford Financial Management Inc.’s holdings in Visa were worth $3,978,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new stake in shares of Visa in the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter valued at $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter valued at $27,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC boosted its stake in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on V. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Macquarie lifted their price target on Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $392.75.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Stock Performance

Shares of NYSE:V opened at $347.71 on Tuesday. The stock has a market capitalization of $637.28 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.05 and a beta of 0.90. Visa Inc. has a 1-year low of $281.35 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $344.89 and a two-hundred day moving average price of $348.09.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.42 EPS. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

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.