Canada Post Corp Registered Pension Plan Buys 53,106 Shares of Visa Inc. $V

Canada Post Corp Registered Pension Plan increased its stake in shares of Visa Inc. (NYSE:V) by 48.4% during the third quarter, HoldingsChannel reports. The fund owned 162,748 shares of the credit-card processor’s stock after acquiring an additional 53,106 shares during the quarter. Visa makes up about 2.5% of Canada Post Corp Registered Pension Plan’s portfolio, making the stock its 8th biggest holding. Canada Post Corp Registered Pension Plan’s holdings in Visa were worth $55,360,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of V. Harbor Asset Planning Inc. acquired a new position in Visa in the 2nd quarter valued at approximately $29,000. Sagard Holdings Management Inc. bought a new stake in shares of Visa during the second quarter valued at approximately $31,000. Bare Financial Services Inc increased its position in shares of Visa by 287.0% during the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 66 shares during the period. Hoese & Co LLP acquired a new position in shares of Visa in the second quarter valued at $36,000. Finally, Quaker Wealth Management LLC lifted its position in Visa by 202.7% in the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 225 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Visa Stock Performance

NYSE V opened at $331.82 on Friday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a 50 day moving average of $338.50 and a 200-day moving average of $340.95. The company has a current ratio of 1.11, a quick ratio of 1.08 and a debt-to-equity ratio of 0.51. The firm has a market cap of $604.49 billion, a price-to-earnings ratio of 31.13, a PEG ratio of 1.89 and a beta of 0.79.

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

Visa Dividend Announcement

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

Analyst Upgrades and Downgrades

V has been the topic of several analyst reports. Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price target on the stock in a report on Monday. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 target price on shares of Visa in a research note on Friday, January 30th. Piper Sandler set a $160.00 price target on shares of Visa in a research report on Wednesday, January 28th. Rothschild & Co Redburn set a $385.00 price objective on Visa in a report on Wednesday, January 28th. Finally, UBS Group reiterated a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Visa has an average rating of “Buy” and an average price target of $392.29.

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.