OMERS ADMINISTRATION Corp Boosts Stock Position in Visa Inc. $V

OMERS ADMINISTRATION Corp grew its position in shares of Visa Inc. (NYSE:V) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,988 shares of the credit-card processor’s stock after purchasing an additional 400 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Visa were worth $33,725,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Keystone Global Partners LLC bought a new position in Visa during the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new position in shares of Visa during the 2nd quarter valued at $29,000. Bare Financial Services Inc grew its holdings in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 66 shares during the last quarter. Finally, Cranbrook Wealth Management LLC raised its position in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.3%

V opened at $334.67 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $609.67 billion, a price-to-earnings ratio of 32.78, a PEG ratio of 1.98 and a beta of 0.82. The business has a 50 day simple moving average of $339.68 and a two-hundred day simple moving average of $347.15. Visa Inc. has a one year low of $299.00 and a one year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 earnings per share. Analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is presently 26.25%.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. UBS Group set a $425.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and issued a $408.00 target price (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Macquarie decreased their price target on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Finally, Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,042 shares of company stock valued at $8,175,152 over the last ninety days. Company insiders own 0.13% of the company’s stock.

About Visa

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.