Meeder Advisory Services Inc. Has $7.45 Million Holdings in Visa Inc. (NYSE:V)

Meeder Advisory Services Inc. increased its stake in Visa Inc. (NYSE:V) by 0.1% in the third quarter, Holdings Channel.com reports. The firm owned 27,087 shares of the credit-card processor’s stock after purchasing an additional 33 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Visa were worth $7,448,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new stake in Visa in the 3rd quarter valued at about $80,000. Capital City Trust Co. FL raised its holdings in Visa by 1.6% in the 3rd quarter. Capital City Trust Co. FL now owns 25,438 shares of the credit-card processor’s stock valued at $6,994,000 after acquiring an additional 399 shares during the period. Mendel Capital Management LLC raised its holdings in Visa by 2.0% in the 3rd quarter. Mendel Capital Management LLC now owns 3,377 shares of the credit-card processor’s stock valued at $929,000 after acquiring an additional 67 shares during the period. Holistic Financial Partners raised its holdings in Visa by 2.5% in the 3rd quarter. Holistic Financial Partners now owns 1,877 shares of the credit-card processor’s stock valued at $516,000 after acquiring an additional 46 shares during the period. Finally, Richard C. Young & CO. LTD. raised its holdings in Visa by 0.9% in the 3rd quarter. Richard C. Young & CO. LTD. now owns 87,828 shares of the credit-card processor’s stock valued at $24,148,000 after acquiring an additional 820 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.5 %

Shares of V stock opened at $309.64 on Monday. Visa Inc. has a 52-week low of $245.60 and a 52-week high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The company has a 50-day simple moving average of $287.04 and a two-hundred day simple moving average of $276.01. The company has a market capitalization of $564.26 billion, a price-to-earnings ratio of 31.82, a PEG ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm earned $2.33 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is 24.25%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Piper Sandler raised their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Susquehanna raised their target price on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Four research 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. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

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.