JLB & Associates Inc. Purchases 206 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 9th, 2023

JLB & Associates Inc. lifted its position in shares of Visa Inc. (NYSE:V – Get Rating) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,039 shares of the credit-card processor’s stock after purchasing an additional 206 shares during the quarter. JLB & Associates Inc.’s holdings in Visa were worth $1,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Visa by 0.6% during the third quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock valued at $25,801,337,000 after purchasing an additional 912,545 shares during the last quarter. Alliancebernstein L.P. raised its stake in Visa by 7.0% during the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after buying an additional 1,785,695 shares during the last quarter. Jennison Associates LLC boosted its holdings in Visa by 0.6% in the third quarter. Jennison Associates LLC now owns 13,270,127 shares of the credit-card processor’s stock worth $2,357,438,000 after acquiring an additional 77,186 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Visa by 3.0% in the third quarter. Royal Bank of Canada now owns 13,157,577 shares of the credit-card processor’s stock worth $2,337,444,000 after acquiring an additional 383,335 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Visa by 1.3% during the second quarter. Legal & General Group Plc now owns 11,724,520 shares of the credit-card processor’s stock valued at $2,308,444,000 after acquiring an additional 148,594 shares in the last quarter. 81.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 13,394 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $219.00, for a total transaction of $2,933,286.00. Following the transaction, the general counsel now owns 4,583 shares of the company’s stock, valued at $1,003,677. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $219.00, for a total transaction of $2,933,286.00. Following the completion of the sale, the general counsel now directly owns 4,583 shares of the company’s stock, valued at $1,003,677. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ryan Mcinerney sold 58,197 shares of Visa stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The disclosure for this sale can be found here. Insiders sold a total of 191,312 shares of company stock valued at $33,751,165 over the last 90 days. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on V. Barclays upped their price target on shares of Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a research note on Sunday, January 29th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Thursday, March 23rd. Truist Financial raised their price target on shares of Visa from $235.00 to $260.00 in a research report on Friday, January 20th. UBS Group lowered their price objective on Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a research report on Thursday, December 15th. Finally, Jefferies Financial Group lifted their target price on Visa from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $259.11.

Visa Price Performance

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

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

Visa Increases Dividend

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

About Visa

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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).