St. Johns Investment Management Company LLC Has $1.44 Million Stock Position in Visa Inc. (NYSE:V)

St. Johns Investment Management Company LLC raised its stake in shares of Visa Inc. (NYSE:V) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,502 shares of the credit-card processor’s stock after purchasing an additional 127 shares during the quarter. St. Johns Investment Management Company LLC’s holdings in Visa were worth $1,444,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Visa in the 4th quarter valued at $3,895,015,000. National Bank of Canada FI grew its holdings in shares of Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new position in shares of Visa in the first quarter valued at about $511,321,000. GQG Partners LLC increased its position in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

V opened at $268.22 on Tuesday. The company has a market capitalization of $490.56 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 1.89 and a beta of 0.95. The business’s 50-day moving average price is $265.87 and its two-hundred day moving average price is $273.18. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the firm earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Analyst Ratings Changes

Several research firms have issued reports on V. Citigroup reduced their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley cut their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Macquarie reissued an “outperform” rating and set a $300.00 price target on shares of Visa in a research note on Wednesday, July 24th. Piper Sandler reduced their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.50.

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.