Security National Bank of Sioux City Iowa IA Sells 125 Shares of Visa Inc. (NYSE:V)

Security National Bank of Sioux City Iowa IA lessened its holdings in shares of Visa Inc. (NYSE:V) by 12.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 891 shares of the credit-card processor’s stock after selling 125 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in Visa were worth $234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in Visa in the 4th quarter worth about $25,000. Westend Capital Management LLC purchased a new stake in Visa in the first quarter worth $25,000. POM Investment Strategies LLC increased its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Visa in the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC raised 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 acquiring an additional 89 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on V. Bank of America upped their target price on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Jefferies Financial Group decreased their price objective on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Piper Sandler lowered their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Price Performance

NYSE V opened at $275.17 on Friday. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07. The business’s fifty day moving average price is $271.31 and its 200-day moving average price is $273.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $503.27 billion, a price-to-earnings ratio of 30.75, a PEG ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is presently 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Visa 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.