Visa Inc. (NYSE:V) is Hendley & Co. Inc.’s 4th Largest Position

Posted by Defense World Staff on Jul 9th, 2023

Hendley & Co. Inc. trimmed its position in shares of Visa Inc. (NYSE:V – Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,588 shares of the credit-card processor’s stock after selling 2,608 shares during the quarter. Visa makes up about 6.2% of Hendley & Co. Inc.’s portfolio, making the stock its 4th biggest holding. Hendley & Co. Inc.’s holdings in Visa were worth $13,886,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. increased its holdings in Visa by 1.2% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 77,046 shares of the credit-card processor’s stock worth $17,371,000 after acquiring an additional 951 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Visa by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 799,904 shares of the credit-card processor’s stock worth $166,188,000 after purchasing an additional 9,534 shares during the last quarter. Occidental Asset Management LLC boosted its stake in Visa by 4.3% during the 4th quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock worth $2,326,000 after purchasing an additional 465 shares during the last quarter. Private Trust Co. NA boosted its stake in Visa by 1.7% during the 4th quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after purchasing an additional 140 shares during the last quarter. Finally, Foster Group Inc. acquired a new position in shares of Visa during the 4th quarter valued at about $210,000. 84.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $232.55, for a total value of $12,591,652.30. Following the completion of the sale, the insider now directly owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $232.55, for a total value of $12,591,652.30. Following the completion of the sale, the insider now directly owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 1,288 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $232.97, for a total value of $300,065.36. Following the completion of the sale, the director now directly owns 2,542 shares of the company’s stock, valued at $592,209.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,602 shares of company stock valued at $33,336,374. 0.22% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of Visa stock opened at $236.45 on Friday. The firm has a market capitalization of $442.95 billion, a P/E ratio of 31.61, a P/E/G ratio of 1.81 and a beta of 0.97. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $240.00. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $229.08 and its two-hundred day moving average is $224.94.

Visa (NYSE:V – Free Report) last announced its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.79 earnings per share. Research analysts forecast that Visa Inc. will post 8.59 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is currently 24.06%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on V. Truist Financial boosted their price target on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Citigroup upped their target price on shares of Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. BMO Capital Markets upped their target price on shares of Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. Raymond James upped their target price on shares of Visa from $281.00 to $282.00 in a research report on Wednesday, April 26th. Finally, StockNews.com started coverage on shares of Visa in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $262.52.

About Visa

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.