Public Employees Retirement System of Ohio Lowers Position in Visa Inc. $V

Key Points

• The Public Employees Retirement System of Ohio decreased its stake in Visa Inc. by 1.9%, holding 733,670 shares worth approximately $260.5 million at the end of the quarter.
• Visa reported $2.98 earnings per share for the latest quarter, exceeding analysts' estimates, and its revenue increased by 14.3% year-over-year to $10.17 billion.
• The company declared a quarterly dividend of $0.59 per share, contributing to a 0.7% yield and with a payout ratio of 23.05%.

Public Employees Retirement System of Ohio decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 733,670 shares of the credit-card processor's stock after selling 14,145 shares during the period. Visa makes up about 0.9% of Public Employees Retirement System of Ohio's holdings, making the stock its 15th largest holding. Public Employees Retirement System of Ohio's holdings in Visa were worth $260,490,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Yeomans Consulting Group Inc. raised its stake 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 valued at $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC increased its holdings in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after buying an additional 29 shares during the last quarter. Kennebec Savings Bank raised its position in shares of Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after buying an additional 30 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after acquiring an additional 30 shares during the last quarter. Finally, Wood Tarver Financial Group LLC lifted its holdings in shares of Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after acquiring an additional 30 shares during 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 dated Monday, August 18th. The shares were 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 in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Price Performance

V opened at $335.09 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The stock's 50 day simple moving average is $344.89 and its 200 day simple moving average is $346.22. The firm has a market cap of $614.15 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.25 and a beta of 0.92. Visa Inc. has a 1 year low of $270.00 and a 1 year high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. 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 dividend payout ratio is presently 23.05%.

Wall Street Analyst Weigh In

V has been the topic of a number of research reports. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They issued a "neutral" rating for the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, UBS Group reissued a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa 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.

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