Meeder Asset Management Inc. Acquires 3,050 Shares of Visa Inc. $V

Meeder Asset Management Inc. lifted its holdings in shares of Visa Inc. (NYSE:V) by 866.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,402 shares of the credit-card processor’s stock after buying an additional 3,050 shares during the quarter. Meeder Asset Management Inc.’s holdings in Visa were worth $1,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Clayton Financial Group LLC grew its holdings in Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp raised its position in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 38 shares during the last quarter. Cresta Advisors Ltd. acquired a new position in shares of Visa in the 4th quarter valued at $26,000. Parvin Asset Management LLC lifted its stake in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management bought a new position in shares of Visa in the 4th quarter worth $30,000. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on V. UBS Group upped their price objective on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Barclays assumed coverage on Visa in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $387.00 price target (up from $375.00) on shares of Visa in a research report on Wednesday, July 15th. Finally, Truist Financial set a $371.00 price objective on shares of Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus target price of $398.36.

Visa Trading Up 0.7%

V opened at $361.25 on Tuesday. The stock has a market capitalization of $648.00 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.91 and a beta of 0.75. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $365.14. The firm’s fifty day simple moving average is $335.15 and its 200 day simple moving average is $325.05. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 EPS. As a group, research analysts anticipate that Visa Inc. will post 13.11 EPS for the current fiscal year.

Visa declared that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.