Strs Ohio Buys 35,050 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 16th, 2023

Strs Ohio raised its stake in Visa Inc. (NYSE:V – Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 661,759 shares of the credit-card processor’s stock after buying an additional 35,050 shares during the period. Visa comprises about 0.8% of Strs Ohio’s portfolio, making the stock its 20th biggest position. Strs Ohio’s holdings in Visa were worth $149,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its stake in shares of Visa by 116,608.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares during the period. Norges Bank acquired a new position in shares of Visa in the 4th quarter valued at about $3,067,232,000. Morgan Stanley lifted its stake in shares of Visa by 13.0% in the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after purchasing an additional 5,864,340 shares during the period. Cottage Street Advisors LLC lifted its stake in shares of Visa by 15,603.1% in the 4th quarter. Cottage Street Advisors LLC now owns 3,156,323 shares of the credit-card processor’s stock valued at $998,000 after purchasing an additional 3,136,223 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Visa by 4.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock valued at $10,616,564,000 after purchasing an additional 2,216,275 shares during the period. Institutional investors own 84.92% of the company’s stock.

Insider Activity

In other news, insider Rajat Taneja sold 22,700 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total value of $5,452,767.00. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $55,755,623.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the completion of the transaction, the chairman now directly owns 154,854 shares of the company’s stock, valued at $36,060,850.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rajat Taneja sold 22,700 shares of the stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $240.21, for a total value of $5,452,767.00. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $55,755,623.52. The disclosure for this sale can be found here. Insiders sold a total of 165,727 shares of company stock valued at $38,891,141 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. BMO Capital Markets boosted their price objective on Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. StockNews.com assumed coverage on Visa in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Barclays boosted their price objective on Visa from $270.00 to $272.00 in a research note on Monday, May 1st. KeyCorp upped their price target on Visa from $250.00 to $260.00 in a research note on Monday, April 24th. Finally, Royal Bank of Canada upped their price target on Visa from $262.00 to $265.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given 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 target price of $262.52.

Visa Stock Performance

Shares of Visa stock opened at $243.16 on Friday. The company has a market cap of $455.52 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.97. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $230.38 and a 200-day moving average price of $226.18. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $244.74.

Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.12. The company had revenue of $7.99 billion during 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%. Visa’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.79 earnings per share. Equities analysts anticipate that Visa Inc. will post 8.59 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio is presently 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.