Supplemental Annuity Collective Trust of NJ Has $3.18 Million Stock Position in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 9th, 2023

Supplemental Annuity Collective Trust of NJ lessened its holdings in Visa Inc. (NYSE:V – Get Rating) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,300 shares of the credit-card processor’s stock after selling 1,200 shares during the period. Visa accounts for about 1.3% of Supplemental Annuity Collective Trust of NJ’s investment portfolio, making the stock its 11th biggest holding. Supplemental Annuity Collective Trust of NJ’s holdings in Visa were worth $3,179,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Occidental Asset Management LLC raised its position in shares of Visa by 4.3% in the fourth quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock valued at $2,326,000 after purchasing an additional 465 shares during the period. Private Trust Co. NA lifted its position in Visa by 1.7% during the 4th quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after acquiring an additional 140 shares during the last quarter. Foster Group Inc. bought a new stake in Visa during the fourth quarter valued at about $210,000. First City Capital Management Inc. acquired a new stake in shares of Visa in the third quarter valued at about $213,000. Finally, Capital Investment Advisors LLC increased its stake in shares of Visa by 4.0% in the fourth quarter. Capital Investment Advisors LLC now owns 23,619 shares of the credit-card processor’s stock worth $4,907,000 after purchasing an additional 899 shares during the period. 81.87% of the stock is currently owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $225.99 on Friday. The stock has a market capitalization of $425.09 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $234.30. The firm has a 50 day moving average of $223.74 and a 200-day moving average of $210.95.

Visa (NYSE:V – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.17. The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 8.43 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $1.80 dividend on an annualized basis and a yield of 0.80%. This is a positive change from Visa’s previous quarterly dividend of $0.40. Visa’s dividend payout ratio is currently 25.17%.

Insider Buying and Selling at Visa

In other news, insider Rajat Taneja sold 61,721 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Rajat Taneja sold 61,721 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of Visa stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $223.99, for a total value of $12,991,420.00. Following the completion of the sale, the chairman now owns 162,354 shares of the company’s stock, valued at $36,365,672.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,312 shares of company stock worth $33,751,165. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on V. JPMorgan Chase & Co. raised their target price on Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 27th. Raymond James upped their target price on shares of Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Truist Financial raised their price target on shares of Visa from $235.00 to $260.00 in a research report on Friday, January 20th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Thursday, March 23rd. Finally, Morgan Stanley upped their price target on Visa from $284.00 to $288.00 and gave the company an “overweight” rating in a report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $259.11.

About Visa

(Get Rating)

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).