Investment Management Corp of Ontario Buys 24,374 Shares of Visa Inc. $V

Investment Management Corp of Ontario raised its stake in Visa Inc. (NYSE:VFree Report) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,097 shares of the credit-card processor’s stock after acquiring an additional 24,374 shares during the quarter. Visa comprises 0.8% of Investment Management Corp of Ontario’s holdings, making the stock its 15th largest position. Investment Management Corp of Ontario’s holdings in Visa were worth $63,513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of V. Brighton Jones LLC increased its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. increased its holdings in shares of Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after purchasing an additional 477 shares during the period. Matrix Asset Advisors Inc. NY increased its holdings in shares of Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after purchasing an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. increased its holdings in shares of Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after purchasing an additional 2,230 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In related news, CFO Chris Suh sold 10,639 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.

Visa Stock Performance

NYSE V opened at $330.42 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $592.69 billion, a price-to-earnings ratio of 28.78, a P/E/G ratio of 1.78 and a beta of 0.77. The firm’s 50 day simple moving average is $320.34 and its 200 day simple moving average is $324.26. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $359.66.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.76 EPS. As a group, research analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its board has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.34%.

Analysts Set New Price Targets

V has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. Weiss Ratings cut shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Loop Capital initiated coverage on shares of Visa in a report on Tuesday, March 31st. They set a “buy” rating and a $387.00 target price on the stock. Truist Financial set a $371.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of Visa in a report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Buy” and a consensus target price of $387.78.

Read Our Latest Analysis on V

Key Visa News

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About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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