Meeder Asset Management Inc. Has $116,000 Stock Position in Visa Inc. (NYSE:V)

Meeder Asset Management Inc. decreased its stake in Visa Inc. (NYSE:V) by 16.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 422 shares of the credit-card processor’s stock after selling 86 shares during the period. Meeder Asset Management Inc.’s holdings in Visa were worth $116,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Whalen Wealth Management Inc. acquired a new stake in shares of Visa in the third quarter worth $213,000. Caprock Group LLC boosted its stake in Visa by 0.8% during the third quarter. Caprock Group LLC now owns 65,681 shares of the credit-card processor’s stock worth $18,059,000 after buying an additional 538 shares in the last quarter. St. Louis Trust Co boosted its stake in Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after buying an additional 34 shares in the last quarter. Aviance Capital Partners LLC boosted its stake in Visa by 0.9% during the third quarter. Aviance Capital Partners LLC now owns 22,120 shares of the credit-card processor’s stock worth $6,076,000 after buying an additional 204 shares in the last quarter. Finally, Baron Wealth Management LLC boosted its stake in Visa by 10.3% during the third quarter. Baron Wealth Management LLC now owns 3,615 shares of the credit-card processor’s stock worth $994,000 after buying an additional 339 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $307.39 on Thursday. The stock has a market capitalization of $560.16 billion, a P/E ratio of 31.59, a P/E/G ratio of 2.07 and a beta of 0.95. Visa Inc. has a 1-year low of $250.03 and a 1-year high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $288.57 and a two-hundred day moving average price of $276.84.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 EPS. Equities analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 94.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on V. Macquarie lifted their price target on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Bank of America lifted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. TD Cowen lifted their price target on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Finally, Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.74.

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.