Visa Inc (V) Shares Bought by South State Corp
South State Corp lifted its position in shares of Visa Inc (NYSE:V) by 2.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 84,832 shares of the credit-card processor’s stock after buying an additional 1,717 shares during the period. Visa makes up 1.3% of South State Corp’s holdings, making the stock its 17th largest holding. South State Corp’s holdings in Visa were worth $11,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Visa during the 2nd quarter worth approximately $727,019,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Visa during the 2nd quarter worth approximately $268,605,000. Amundi Pioneer Asset Management Inc. raised its position in shares of Visa by 53.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 3,929,346 shares of the credit-card processor’s stock worth $470,029,000 after purchasing an additional 1,363,772 shares during the last quarter. Gateway Investment Advisers LLC acquired a new position in shares of Visa during the 2nd quarter worth approximately $146,859,000. Finally, Welch & Forbes LLC acquired a new position in shares of Visa during the 2nd quarter worth approximately $110,750,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.
V stock opened at $149.58 on Wednesday. The firm has a market cap of $305.24 billion, a PE ratio of 42.98, a PEG ratio of 1.86 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.69. Visa Inc has a 52 week low of $102.88 and a 52 week high of $150.26.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.56%. Visa’s payout ratio is 24.14%.
In other news, CFO Vasant M. Prabhu sold 25,064 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the completion of the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James H. Hoffmeister sold 6,912 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $140.01, for a total value of $967,749.12. Following the sale, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Several brokerages recently issued reports on V. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a research report on Tuesday. Goldman Sachs Group downgraded Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 price objective for the company. in a research report on Monday, September 17th. Loop Capital lifted their price objective on Visa to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Cantor Fitzgerald boosted their price target on Visa to $160.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. Finally, Buckingham Research boosted their price target on Visa from $152.00 to $169.00 and gave the company a “buy” rating in a report on Tuesday, June 26th. Two investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. Visa has an average rating of “Buy” and an average target price of $151.22.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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