Johnson Investment Counsel Inc. Buys 40,452 Shares of Visa Inc. $V

Johnson Investment Counsel Inc. increased its stake in Visa Inc. (NYSE:V) by 11.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 397,472 shares of the credit-card processor’s stock after purchasing an additional 40,452 shares during the quarter. Visa makes up 1.1% of Johnson Investment Counsel Inc.’s investment portfolio, making the stock its 17th largest holding. Johnson Investment Counsel Inc.’s holdings in Visa were worth $135,689,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new position in shares of Visa in the second quarter worth about $29,000. Sagard Holdings Management Inc. acquired a new stake in Visa in the 2nd quarter valued at approximately $31,000. Bare Financial Services Inc increased its position in Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares during the period. Hoese & Co LLP bought a new position in Visa in the 2nd quarter worth approximately $36,000. Finally, Quaker Wealth Management LLC lifted its holdings in shares of Visa by 202.7% during the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock worth $40,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.8%

Shares of NYSE V opened at $325.48 on Tuesday. The stock has a market cap of $590.80 billion, a PE ratio of 30.53, a PEG ratio of 1.90 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The business has a fifty day moving average of $338.40 and a two-hundred day moving average of $340.57. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. The firm had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.75 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio is 25.14%.

Analysts Set New Price Targets

V has been the topic of several research analyst reports. KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Cantor Fitzgerald upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Piper Sandler set a $160.00 price objective on shares of Visa in a report on Wednesday, January 28th. Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, February 2nd. Finally, Truist Financial set a $374.00 price target on Visa in a research note on Tuesday, January 20th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Visa has a consensus rating of “Buy” and an average price target of $392.29.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.12% of the company’s stock.

Visa Company Profile

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.