Ontario Teachers Pension Plan Board Sells 558 Shares of Visa Inc. (NYSE:V)

Ontario Teachers Pension Plan Board trimmed its holdings in Visa Inc. (NYSE:V) by 13.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,690 shares of the credit-card processor’s stock after selling 558 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Visa were worth $1,015,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Horizon Advisors Inc. boosted its position in shares of Visa by 3.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 24,665 shares of the credit-card processor’s stock worth $6,782,000 after purchasing an additional 883 shares during the period. Advisors Asset Management Inc. lifted its holdings in Visa by 2.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 224,515 shares of the credit-card processor’s stock worth $61,730,000 after buying an additional 5,969 shares in the last quarter. Howe & Rusling Inc. lifted its holdings in Visa by 12.5% during the 3rd quarter. Howe & Rusling Inc. now owns 28,867 shares of the credit-card processor’s stock worth $7,937,000 after buying an additional 3,216 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its holdings in Visa by 0.8% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 12,958 shares of the credit-card processor’s stock worth $3,563,000 after buying an additional 108 shares in the last quarter. Finally, Commerce Bank lifted its holdings in Visa by 0.7% during the 3rd quarter. Commerce Bank now owns 700,436 shares of the credit-card processor’s stock worth $192,585,000 after buying an additional 5,068 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $307.39 on Thursday. Visa Inc. has a 52-week low of $250.03 and a 52-week high of $312.44. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $288.57 and a 200 day moving average price of $276.84. The firm has a market capitalization of $560.16 billion, a PE ratio of 31.59, a P/E/G ratio of 2.09 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on V shares. JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Susquehanna raised their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday, October 30th. Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Finally, Mizuho raised their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

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.