North Point Portfolio Managers Corp OH Has $23.29 Million Stake in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 12th, 2023

North Point Portfolio Managers Corp OH lifted its stake in Visa Inc. (NYSE:V – Free Report) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 103,318 shares of the credit-card processor’s stock after buying an additional 595 shares during the period. Visa comprises 3.7% of North Point Portfolio Managers Corp OH’s portfolio, making the stock its 3rd biggest holding. North Point Portfolio Managers Corp OH’s holdings in Visa were worth $23,294,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in V. Global Wealth Strategies & Associates bought a new position in Visa during the fourth quarter worth about $26,000. JDM Financial Group LLC bought a new position in Visa during the fourth quarter worth about $29,000. McElhenny Sheffield Capital Management LLC bought a new position in Visa during the fourth quarter worth about $31,000. Financial Freedom LLC bought a new position in Visa during the fourth quarter worth about $32,000. Finally, Ridgewood Investments LLC bought a new position in Visa during the first quarter worth about $35,000. Institutional investors own 84.92% of the company’s stock.

Insider Activity

In other news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $232.87, for a total value of $1,746,525.00. Following the sale, the chairman now directly owns 154,854 shares in the company, valued at $36,060,850.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Ryan Mcinerney sold 24,025 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $232.87, for a total value of $1,746,525.00. Following the sale, the chairman now owns 154,854 shares in the company, valued at approximately $36,060,850.98. The disclosure for this sale can be found here. Insiders have sold a total of 142,602 shares of company stock worth $33,336,374 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on V. Royal Bank of Canada raised their price target on shares of Visa from $262.00 to $265.00 in a research note on Wednesday, April 26th. Citigroup raised their price objective on shares of Visa from $270.00 to $273.00 in a report on Wednesday, April 26th. StockNews.com started coverage on shares of Visa in a report on Thursday, May 18th. They set a “buy” rating for the company. Truist Financial raised their price objective on shares of Visa from $260.00 to $270.00 in a report on Wednesday, April 26th. Finally, Robert W. Baird raised their price objective on shares of Visa from $272.00 to $284.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $262.52.

Visa Stock Performance

V stock opened at $240.58 on Wednesday. The business’s 50-day moving average price is $229.47 and its two-hundred day moving average price is $225.54. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $450.68 billion, a PE ratio of 32.16, a P/E/G ratio of 1.82 and a beta of 0.97. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $240.70.

Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.12. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. Visa had a return on equity of 50.21% and a net margin of 50.95%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.79 earnings per share. As a group, research analysts forecast that Visa Inc. will post 8.59 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were issued a $0.45 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is 24.06%.

Visa Company Profile

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.