Strs Ohio Makes New Investment in Visa Inc. $V

Key Points

• Strs Ohio has made a significant investment in Visa Inc., acquiring 500,007 shares valued at approximately $175.23 million in the 1st quarter, which now represents 0.7% of their portfolio.
• Visa's most recent earnings report revealed an earnings per share of $2.98, surpassing expectations, alongside a 14.3% year-over-year revenue increase totaling $10.17 billion.
• The company recently declared a quarterly dividend of $0.59 per share, with a current annualized yield of 0.7%, and a payout ratio of 23.05%.

Strs Ohio acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 500,007 shares of the credit-card processor's stock, valued at approximately $175,232,000. Visa makes up 0.7% of Strs Ohio's holdings, making the stock its 18th biggest holding.

Other large investors have also made changes to their positions in the company. Keystone Global Partners LLC bought a new stake in shares of Visa in the 1st quarter valued at $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa during the 1st quarter worth about $27,000. 1 North Wealth Services LLC acquired a new position in shares of Visa during the 1st quarter worth about $38,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the 1st quarter worth about $54,000. Finally, Global X Japan Co. Ltd. acquired a new position in shares of Visa during the 1st quarter worth about $56,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of NYSE:V opened at $338.50 on Thursday. The company's 50 day simple moving average is $347.72 and its 200 day simple moving average is $347.07. The stock has a market capitalization of $620.40 billion, a price-to-earnings ratio of 33.06, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51.

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

Visa Announces Dividend

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

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on 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 sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Finally, Jefferies Financial Group raised their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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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