40,610 Shares in Visa Inc. (NYSE:V) Purchased by Shelter Ins Retirement Plan

Shelter Ins Retirement Plan acquired a new stake in shares of Visa Inc. (NYSE:V) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,610 shares of the credit-card processor’s stock, valued at approximately $10,659,000. Visa makes up about 2.8% of Shelter Ins Retirement Plan’s holdings, making the stock its 12th biggest holding.

A number of other large investors also recently bought and sold shares of the company. Nadler Financial Group Inc. boosted its position in Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after purchasing an additional 44 shares during the period. Hilltop National Bank acquired a new position in shares of Visa during the first quarter valued at $1,212,000. TCI Wealth Advisors Inc. grew its position in shares of Visa by 0.8% during the fourth quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock worth $1,330,000 after acquiring an additional 40 shares during the last quarter. Absolute Capital Management LLC acquired a new stake in shares of Visa in the 1st quarter worth about $404,000. Finally, SageView Advisory Group LLC lifted its position in Visa by 40.4% in the 4th quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock valued at $6,967,000 after purchasing an additional 7,236 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the subject of several recent analyst reports. Piper Sandler decreased their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Bank of America reissued a “neutral” rating and issued a $297.00 price objective (down from $305.00) on shares of Visa in a report on Wednesday, July 10th. Citigroup cut their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. TD Cowen decreased their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group cut their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $308.50.

Visa Trading Down 0.2 %

Shares of Visa stock traded down $0.50 during trading on Friday, hitting $267.44. The stock had a trading volume of 3,697,448 shares, compared to its average volume of 9,242,073. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The stock has a 50 day simple moving average of $265.93 and a 200 day simple moving average of $273.28. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $487.36 billion, a PE ratio of 29.88, a P/E/G ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 EPS. On average, research analysts expect that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.