Meeder Advisory Services Inc. Buys 2,942 Shares of Visa Inc. (NYSE:V)

Meeder Advisory Services Inc. raised its stake in shares of Visa Inc. (NYSE:V) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,741 shares of the credit-card processor’s stock after purchasing an additional 2,942 shares during the period. Visa accounts for approximately 0.7% of Meeder Advisory Services Inc.’s holdings, making the stock its 27th biggest position. Meeder Advisory Services Inc.’s holdings in Visa were worth $11,124,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Lakeridge Wealth Management LLC lifted its holdings in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after acquiring an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC purchased a new position in shares of Visa during the fourth quarter worth approximately $306,000. Aptus Capital Advisors LLC increased its position in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after acquiring an additional 30,185 shares during the period. Eagle Strategies LLC increased its holdings in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after buying an additional 63 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after buying an additional 43,546 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on V shares. UBS Group raised their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. 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. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.52.

Visa Trading Down 0.4%

NYSE V opened at $355.46 on Tuesday. The company has a market capitalization of $655.88 billion, a PE ratio of 35.72, a P/E/G ratio of 2.41 and a beta of 0.92. The company has a fifty day moving average of $356.06 and a 200 day moving average of $345.79. Visa Inc. has a 1 year low of $254.51 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the previous year, the company earned $2.51 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s payout ratio is 23.72%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,108 shares of company stock valued at $36,771,200. Corporate insiders own 0.13% of the company’s stock.

Visa Company 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.