Fort Washington Investment Advisors Inc. OH Buys 3,685 Shares of Visa Inc. $V

Key Points

• Fort Washington Investment Advisors Inc. OH has increased its stake in Visa Inc. by 0.5%, acquiring an additional 3,685 shares, bringing its total holdings to 798,942 shares valued at approximately $283.67 million.
• Multiple hedge funds, including Yeomans Consulting Group Inc. and Semus Wealth Partners LLC, have also increased their investments in Visa, highlighting a trend of institutional buying.
• Brokerage firms are actively adjusting their price targets for Visa, with UBS Group raising theirs from $405 to $415, while Truist Financial lowered it slightly from $400 to $397.

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 798,942 shares of the credit-card processor's stock after acquiring an additional 3,685 shares during the quarter. Visa makes up 1.6% of Fort Washington Investment Advisors Inc. OH's holdings, making the stock its 11th biggest holding. Fort Washington Investment Advisors Inc. OH's holdings in Visa were worth $283,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Yeomans Consulting Group Inc. increased its holdings in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC increased its holdings in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares in the last quarter. BankPlus Wealth Management LLC increased its holdings in Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock worth $1,185,000 after purchasing an additional 29 shares in the last quarter. Kennebec Savings Bank increased its holdings in Visa by 0.9% in the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after purchasing an additional 30 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in Visa by 0.8% in the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on V. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. UBS Group restated a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Stock Up 0.9%

Shares of NYSE:V opened at $340.27 on Tuesday. The stock has a market cap of $623.64 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 2.24 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $273.20 and a 12-month high of $375.51. The business's 50 day moving average is $344.44 and its 200 day moving average is $346.54.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is currently 23.05%.

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.

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