Visa Inc. (NYSE:V) Position Lifted by SouthState Corp

SouthState Corp lifted its stake in shares of Visa Inc. (NYSE:V) by 50.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,455 shares of the credit-card processor’s stock after acquiring an additional 40,338 shares during the period. Visa accounts for approximately 2.5% of SouthState Corp’s portfolio, making the stock its 5th biggest position. SouthState Corp’s holdings in Visa were worth $38,069,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of V. Decker Retirement Planning Inc. acquired a new stake in shares of Visa during the 4th quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa during the 4th quarter worth about $27,000. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the 3rd quarter worth about $26,000. POM Investment Strategies LLC increased its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Visa during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $331.72 on Monday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day simple moving average of $337.96 and a 200-day simple moving average of $311.19. The stock has a market capitalization of $616.26 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on V shares. Bank of America lifted their target price on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Barclays lifted their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted their target price on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $353.96.

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 103,855 shares of company stock valued at $35,165,827 over the last quarter. Company 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.