Elo Mutual Pension Insurance Co Boosts Stock Position in Visa Inc. (NYSE:V)

Elo Mutual Pension Insurance Co grew its position in shares of Visa Inc. (NYSE:V) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,123 shares of the credit-card processor’s stock after purchasing an additional 499 shares during the quarter. Visa makes up about 0.9% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 17th largest position. Elo Mutual Pension Insurance Co’s holdings in Visa were worth $38,090,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new stake in shares of Visa in the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new position in shares of Visa during the first quarter valued at approximately $25,000. POM Investment Strategies LLC lifted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC increased its position in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.4 %

Visa stock opened at $291.61 on Wednesday. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The stock has a fifty day simple moving average of $269.30 and a two-hundred day simple moving average of $273.27. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $533.34 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the company earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Bank of America increased their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. Finally, Royal Bank of Canada decreased their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

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.