OMERS ADMINISTRATION Corp Purchases 1,352 Shares of Visa Inc. $V

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Visa Inc. by 1.5% during the first quarter, acquiring an additional 1,352 shares, bringing its total holdings to 94,588 shares valued at approximately $33.15 million.
• Visa received several positive updates from analysts, with Wall Street Zen upgrading the stock from "hold" to "buy" and multiple firms raising their target prices, indicating a strong overall outlook.
• Visa recently announced a quarterly dividend of $0.59, reflecting an annualized dividend of $2.36 and a yield of 0.7%, with a payout ratio of 23.05%.

OMERS ADMINISTRATION Corp lifted its position in Visa Inc. (NYSE:V - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,588 shares of the credit-card processor's stock after acquiring an additional 1,352 shares during the period. OMERS ADMINISTRATION Corp's holdings in Visa were worth $33,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new position in Visa in the first quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa in the 4th quarter worth about $47,000. Navigoe LLC bought a new position in shares of Visa in the 4th quarter worth about $53,000. Finally, O Brien Wealth Partners LLC bought a new position in shares of Visa in the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on V. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Piper Sandler lifted their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus target price of $380.84.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,127 shares of company stock valued at $28,340,553. Insiders own 0.13% of the company's stock.

Visa Trading Down 0.1%

Shares of V stock opened at $350.72 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $267.67 and a 12-month high of $375.51. The stock has a market capitalization of $642.80 billion, a P/E ratio of 34.25, a P/E/G ratio of 2.34 and a beta of 0.94. The firm's 50 day moving average is $347.87 and its 200 day moving average is $347.44.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend 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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