Visa Inc. (NYSE:V) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario grew its stake in Visa Inc. (NYSE:V) by 33.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 131,297 shares of the credit-card processor’s stock after purchasing an additional 33,190 shares during the period. Visa makes up about 0.8% of Investment Management Corp of Ontario’s holdings, making the stock its 18th largest holding. Investment Management Corp of Ontario’s holdings in Visa were worth $36,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Cullinan Associates Inc. raised its position in Visa by 33.7% in the second quarter. Cullinan Associates Inc. now owns 86,039 shares of the credit-card processor’s stock worth $22,583,000 after acquiring an additional 21,674 shares in the last quarter. RDA Financial Network increased its stake in shares of Visa by 11.7% in the second quarter. RDA Financial Network now owns 17,877 shares of the credit-card processor’s stock valued at $4,692,000 after purchasing an additional 1,873 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in Visa by 15.1% during the second quarter. Linden Thomas Advisory Services LLC now owns 14,137 shares of the credit-card processor’s stock worth $3,711,000 after acquiring an additional 1,856 shares during the period. NBC Securities Inc. lifted its holdings in shares of Visa by 9.5% in the second quarter. NBC Securities Inc. now owns 29,681 shares of the credit-card processor’s stock valued at $7,790,000 after purchasing an additional 2,584 shares in the last quarter. Finally, Greenfield Savings Bank raised its position in Visa by 3.6% during the second quarter. Greenfield Savings Bank now owns 5,020 shares of the credit-card processor’s stock valued at $1,318,000 after acquiring an additional 174 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V stock opened at $316.86 on Tuesday. The firm has a market capitalization of $590.27 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.12 and a beta of 0.96. The stock has a 50 day moving average price of $292.09 and a 200 day moving average price of $278.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a 52-week low of $252.14 and a 52-week high of $317.42.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.74%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on V shares. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a report on Tuesday, September 3rd. Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Finally, Susquehanna increased their target price on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

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.