Visa Inc. $V Stake Lowered by Board of the Pension Protection Fund

Board of the Pension Protection Fund cut its holdings in Visa Inc. (NYSE:V) by 28.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,800 shares of the credit-card processor’s stock after selling 700 shares during the period. Board of the Pension Protection Fund’s holdings in Visa were worth $639,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Yeomans Consulting Group Inc. raised its position in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC raised its position in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after purchasing an additional 29 shares in the last quarter. BankPlus Wealth Management LLC raised its position in Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after purchasing an additional 29 shares in the last quarter. Wood Tarver Financial Group LLC increased its holdings in shares of Visa by 11.1% during the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock worth $105,000 after buying an additional 30 shares in the last quarter. Finally, Synergy Investment Management LLC increased its holdings in shares of Visa by 5.3% during the first quarter. Synergy Investment Management LLC now owns 597 shares of the credit-card processor’s stock worth $209,000 after buying an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Macquarie raised their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $389.00.

Insiders Place Their Bets

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

Visa Stock Performance

Shares of Visa stock opened at $345.81 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $633.80 billion, a P/E ratio of 33.77, a P/E/G ratio of 2.06 and a beta of 0.90. The firm has a 50 day simple moving average of $344.14 and a 200 day simple moving average of $346.97. Visa Inc. has a fifty-two week low of $278.35 and a fifty-two week high of $375.51.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s payout ratio is currently 23.05%.

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.