Old Mission Investment Co LLC Purchases Shares of 14,182 Visa Inc. $V

Old Mission Investment Co LLC bought a new position in Visa Inc. (NYSE:V) in the second quarter, Holdings Channel reports. The institutional investor bought 14,182 shares of the credit-card processor’s stock, valued at approximately $4,866,000. Visa makes up about 1.0% of Old Mission Investment Co LLC’s holdings, making the stock its 21st biggest position.

Several other large investors have also recently made changes to their positions in V. Nixon Peabody Trust Co. raised its holdings in Visa by 58.1% in the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after purchasing an additional 1,543 shares in the last quarter. Vega Investment Solutions purchased a new position in shares of Visa during the second quarter valued at approximately $829,000. Beacon Financial Group boosted its holdings in Visa by 83.9% in the first quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock worth $6,801,000 after acquiring an additional 10,267 shares in the last quarter. Pincus Capital Management LP purchased a new stake in Visa during the 4th quarter valued at about $4,278,000. Finally, Marble Wealth LLC purchased a new stake in shares of Visa during the fourth quarter valued at approximately $3,529,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Susquehanna reiterated a “positive” rating and issued a $427.00 price objective (up from $410.00) on shares of Visa in a report on Wednesday, July 29th. JPMorgan Chase & Co. upped their price objective on Visa from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Erste Group Bank raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, July 27th. BNP Paribas Exane raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings raised Visa from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Buy” and a consensus price target of $416.62.

Insider Buying and Selling at Visa

In related news, insider Tullier Mahon sold 57,272 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $7,018,365.40. This represents a 9.93% 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. In the last 90 days, insiders have sold 104,537 shares of company stock valued at $37,540,837. 0.12% of the stock is currently owned by corporate insiders.

Visa Stock Down 1.1%

NYSE:V opened at $374.46 on Friday. The company has a market cap of $668.20 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 2.03 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $385.57. The stock has a fifty day simple moving average of $363.63 and a 200-day simple moving average of $333.27.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.Visa’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.98 EPS. Analysts anticipate that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is currently 22.79%.

About Visa

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.