Hartford Investment Management Co. owns $37.66 million worth of shares in Visa Inc. (NYSE:V)


Hartford Investment Management Co. reduced its holdings in shares of Visa Inc. (NYSE:V – Get Rating ) by 7.4% during the first quarter, HoldingsChannel reports. The firm owned 169,819 shares of the credit card processor’s stock after selling 13,489 shares during the period. Visa makes up approximately 1.0% of Hartford Investment Management Co.’s holdings, making the stock its 13th largest holding. Hartford Investment Management Co.’s holdings. in Visa were worth $37,661,000 at the end of the most recent reporting period.

A number of other institutional investors also made changes to their positions in V. Outfitter Financial LLC acquired a new stake in shares of Visa in the fourth quarter valued at $27,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter valued at $32 000. Joseph Group Capital Management acquired a new stake in shares of Visa during the fourth quarter valued at $1,429,000. Rise Advisors LLC acquired a new stake in shares of Visa in the fourth quarter valued at $35,000. Finally, Disciplined Investments LLC boosted its holdings in shares of Visa by 500.0% during the fourth quarter. Disciplined Investments LLC now owns 168 shares of the credit card processor’s stock valued at $36,000 after buying an additional 140 shares during the last quarter. 80.77% of the shares are owned by institutional investors and hedge funds.

A number of research analysts have recently commented on shares of V. Citigroup cut their target price on Visa from $285.00 to $265.00 in a research report on Monday, April 25th. Morgan Stanley boosted their target price on Visa from $279.00 to $284.00 in a report on Wednesday, April 27th. Cowen cut their target price on Visa from $276.00 to $254.00 in a report on Wednesday, April 27th. Credit Suisse Group boosted their target price on shares of Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, April 27th. Finally, The Goldman Sachs Group began coverage on shares of Visa in a research note on Tuesday, May 17th. They issued a “buy” rating and a $282.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and an average target price of $266.24, according to MarketBeat .

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 31st. The shares were sold at an average price of $210.38, for a total transaction of $1,893,420.00. Following the completion of the transaction, the chief executive officer now owns 162,887 shares of the company’s stock, valued at $34,268,167.06. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. Over the last three months, insiders have sold 27,000 shares of company stock valued at $5,619,330. Insiders own 0.21% of the company’s stock.

Shares of V stock opened at $199.18 on Monday. The firm has a market cap of $378.70 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 1.69 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a quick earnings ratio of 1.29 and a current ratio of 1.29. Visa Inc. has a 52-week low of $185.91 and a 52-week high of $252.67. The firm’s 50-day SMA is $203.19, and its 200-day SMA is $211.76.

Visa (NYSE:V – Get Rating ) last posted its quarterly earnings results on Tuesday, April 26th. The credit card processor reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The company had revenue of $7.19 billion for the quarter, compared to analysts’ estimates of $6.82 billion. In the same quarter last year, the firm reported $1.38 earnings per share. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. Analysts predict that Visa Inc. will report 7.16 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were given a $0.375 dividend. This represents a $1.50 annual dividend and a dividend yield of 0.75%. The ex-dividend date was Thursday, May 12th. Visa’s dividend payout ratio (DPR) is currently 23.58%.

Visa profile (Get Rating)

Visa Inc operates as a payment technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners and government bodies. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)



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