Strs Ohio Buys New Shares in Visa Inc. $V

Strs Ohio bought a new stake in Visa Inc. (NYSE:V) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 500,007 shares of the credit-card processor’s stock, valued at approximately $175,232,000. Visa accounts for 0.7% of Strs Ohio’s holdings, making the stock its 18th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the period. Nuveen LLC acquired a new position in shares of Visa during the first quarter valued at about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Visa during the fourth quarter valued at about $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Visa by 14.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor’s stock valued at $4,210,207,000 after purchasing an additional 1,723,785 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were 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 approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

V stock opened at $338.50 on Thursday. The firm’s 50-day moving average price is $347.72 and its two-hundred day moving average price is $347.07. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The stock has a market capitalization of $620.40 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 2.29 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Visa in a report on Monday, June 2nd. They set a “buy” rating on the stock. Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Jefferies Financial Group upped their target price on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Barclays restated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Truist Financial lowered their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

About Visa

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.