Elo Mutual Pension Insurance Co Has $38.09 Million Position in Visa Inc. (NYSE:V)

Elo Mutual Pension Insurance Co increased its holdings in shares of Visa Inc. (NYSE:V) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 145,123 shares of the credit-card processor’s stock after buying an additional 499 shares during the period. Visa comprises approximately 0.9% of Elo Mutual Pension Insurance Co’s 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 quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Westend Capital Management LLC bought a new position in shares of Visa during the first quarter worth about $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa in the 4th quarter worth about $25,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Visa during the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its stake in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by company insiders.

Visa Trading Up 0.4 %

Shares of Visa stock opened at $291.61 on Wednesday. The stock has a market capitalization of $533.34 billion, a P/E ratio of 32.58, a P/E/G ratio of 2.01 and a beta of 0.96. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50-day simple moving average is $269.30 and its 200 day simple moving average is $273.27.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the company posted $2.16 EPS. Visa’s revenue was up 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group dropped their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. TD Cowen reduced their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Citigroup dropped their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $310.22.

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.