Old Mission Investment Co LLC Purchases New Holdings in Visa Inc. $V

Old Mission Investment Co LLC purchased a new position in shares of Visa Inc. (NYSE:V) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,182 shares of the credit-card processor’s stock, valued at approximately $4,866,000. Visa comprises about 1.0% of Old Mission Investment Co LLC’s holdings, making the stock its 21st largest holding.

Several other hedge funds have also recently added to or reduced their stakes in V. Parvin Asset Management LLC raised its holdings in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the period. Philadelphia Investment Partners LLC bought a new stake in shares of Visa in the second quarter valued at about $29,000. Virtus Advisers LLC acquired a new position in Visa during the 2nd quarter worth approximately $33,000. RHL Group LLC acquired a new position in Visa during the fourth quarter worth $34,000. Finally, Timmons Wealth Management LLC bought a new position in shares of Visa in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.1%

Shares of NYSE V opened at $374.46 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The company has a 50-day moving average price of $363.63 and a 200-day moving average price of $333.27. The stock has a market capitalization of $668.20 billion, a P/E ratio of 31.84, a P/E/G ratio of 2.03 and a beta of 0.76. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $385.57.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.98 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 11th. Visa’s payout ratio is presently 22.79%.

Analyst Upgrades and Downgrades

V has been the subject of several recent analyst reports. Raymond James Financial reiterated an “outperform” rating and issued a $406.00 target price on shares of Visa in a research note on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating and set a $420.00 target price (up from $410.00) on shares of Visa in a report on Wednesday, July 29th. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research report on Wednesday, July 29th. Weiss Ratings upgraded Visa from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. Finally, Wolfe Research reissued an “outperform” rating and issued a $460.00 price objective (up from $435.00) on shares of Visa in a research note on Tuesday, August 25th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $416.62.

Insider Buying and Selling

In related news, insider Tullier Mahon sold 57,272 shares of Visa stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the transaction, the insider directly owned 49,662 shares in the company, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,018,365.40. The trade was a 9.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 104,537 shares of company stock valued at $37,540,837. 0.12% of the stock is owned by company insiders.

About Visa

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.