OMERS ADMINISTRATION Corp Buys 34,024 Shares of Visa Inc. $V

OMERS ADMINISTRATION Corp boosted its stake in shares of Visa Inc. (NYSE:V) by 32.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,163 shares of the credit-card processor’s stock after purchasing an additional 34,024 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Visa were worth $48,089,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of V. G&S Capital LLC boosted its holdings in shares of Visa by 4.0% in the second quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock worth $261,000 after buying an additional 29 shares during the last quarter. Keating Financial Advisory Services Inc. boosted its holdings in Visa by 0.9% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 3,189 shares of the credit-card processor’s stock worth $1,094,000 after buying an additional 29 shares during the period. NerdWallet Wealth Partners LLC grew its position in shares of Visa by 4.5% during the second quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock worth $239,000 after purchasing an additional 30 shares in the last quarter. Frederick Financial Consultants LLC increased its holdings in Visa by 2.0% in the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after acquiring an additional 31 shares during the last quarter. Finally, Kuhn & Co Investment Counsel increased its stake in Visa by 0.5% in the 4th quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock worth $2,138,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the transaction, the insider owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup reaffirmed a “buy” rating and set a $440.00 price objective (up from $400.00) on shares of Visa in a research note on Wednesday, July 29th. Wolfe Research reiterated an “outperform” rating and set a $435.00 price objective (up from $430.00) on shares of Visa in a research note on Wednesday, July 29th. Clear Str raised Visa to a “strong-buy” rating in a research report on Thursday, July 16th. Raymond James Financial reaffirmed an “outperform” rating and issued a $406.00 price target on shares of Visa in a report on Wednesday, July 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 price objective on shares of Visa in a research report on Tuesday, June 2nd. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Buy” and a consensus price target of $413.58.

Visa Stock Up 0.0%

Shares of V opened at $371.09 on Monday. The company has a market capitalization of $662.18 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 1.99 and a beta of 0.74. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $373.97. The stock’s 50-day moving average price is $353.73 and its 200-day moving average price is $329.61. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period in the previous year, the firm earned $2.98 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc. will post 13.16 EPS for the current year.

Visa declared that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is presently 22.79%.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.