Public Sector Pension Investment Board Acquires 97,655 Shares of Visa Inc. (NYSE:V)

Public Sector Pension Investment Board lifted its holdings in shares of Visa Inc. (NYSE:V) by 23.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 519,939 shares of the credit-card processor’s stock after acquiring an additional 97,655 shares during the period. Visa makes up 0.9% of Public Sector Pension Investment Board’s holdings, making the stock its 17th biggest holding. Public Sector Pension Investment Board’s holdings in Visa were worth $136,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Westend Capital Management LLC purchased a new position in Visa during the first quarter worth about $25,000. Livelsberger Financial Advisory purchased a new position in Visa during the fourth quarter worth about $25,000. POM Investment Strategies LLC boosted its holdings in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC boosted its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on V. Citigroup dropped their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley dropped their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group dropped their target price 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 analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Price Performance

Shares of NYSE:V opened at $284.77 on Monday. The company’s fifty day moving average price is $270.65 and its 200-day moving average price is $273.40. The firm has a market capitalization of $520.83 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.05 and a beta of 0.96. Visa Inc. has a one year low of $227.78 and a one year high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. On average, equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by insiders.

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.