Elo Mutual Pension Insurance Co Acquires 2,835 Shares of Visa Inc. (NYSE:V)

Elo Mutual Pension Insurance Co raised its stake in shares of Visa Inc. (NYSE:V) by 1.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 152,442 shares of the credit-card processor’s stock after acquiring an additional 2,835 shares during the period. Visa makes up approximately 1.0% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 15th biggest position. Elo Mutual Pension Insurance Co’s holdings in Visa were worth $48,178,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Decker Retirement Planning Inc. bought a new stake in shares of Visa in the fourth quarter worth $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the 4th quarter valued at about $27,000. POM Investment Strategies LLC grew its stake in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after purchasing an additional 32 shares during the period. Modus Advisors LLC bought a new position in shares of Visa in the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc purchased a new position in shares of Visa in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on V. The Goldman Sachs Group upped their target price on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This represents a 59.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,205 shares of company stock valued at $48,560,961 in the last ninety days. 0.13% of the stock is owned by company insiders.

Visa Price Performance

NYSE:V opened at $344.05 on Thursday. The firm has a market capitalization of $639.17 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day simple moving average of $342.50 and a 200-day simple moving average of $314.42. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa’s payout ratio is 23.79%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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.