OMERS Administration Corp has increased its holdings in Visa Inc. (NYSE: V) by 0.4% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The investment fund now owns a total of 94,988 shares, having purchased an additional 400 shares in the quarter. As of the latest SEC disclosure, OMERS’ stake in Visa is valued at approximately $33,725,000.
Several other institutional investors have also made moves regarding Visa’s stock recently. For instance, Keystone Global Partners LLC acquired a new position in Visa valued at around $26,000 during the first quarter. Family Legacy Financial Solutions LLC purchased shares worth $28,000 in the second quarter, while Harbor Asset Planning Inc. acquired a stake valued at $29,000. Notably, Bare Financial Services Inc. saw a substantial growth in its holdings, increasing its position by 287.0% during the same period. Cranbrook Wealth Management LLC also raised its stake in Visa by 82.0%.
Institutional investors now hold approximately 82.15% of Visa’s stock.
Visa’s Trading Performance and Dividend Announcement
On Monday, Visa’s stock opened at $334.67, reflecting a slight increase of 0.3%. The company maintains a market capitalization of $609.67 billion, a price-to-earnings ratio of 32.78, and a debt-to-equity ratio of 0.53. Visa announced a quarterly dividend of $0.67 per share, an increase from its previous dividend of $0.59. This dividend will be paid on December 1, 2023, to investors on record as of November 12, 2023. This change represents an annualized dividend of $2.68 and a dividend yield of 0.8%.
Analyst Ratings and Insider Transactions
Visa has attracted attention from various analysts, with recent reports indicating a generally positive outlook. UBS Group set a price target of $425.00 and rated the stock as a “buy” on October 29, 2023. Similarly, Raymond James Financial reissued an “outperform” rating with an adjusted target price of $408.00. Wells Fargo & Company upgraded Visa to a “strong-buy” status on October 22, 2023.
In terms of insider transactions, CEO Ryan McInerney sold 10,485 shares on November 3, 2023, at an average price of $341.00, totaling approximately $3,575,385.00. Following this sale, McInerney’s ownership in Visa decreased significantly to 537 shares. Additionally, insider Paul D. Fabara sold 2,172 shares on November 21, 2023, at an average price of $325.93, amounting to $707,919.96. Over the past ninety days, insiders have sold a total of 24,042 shares valued at $8,175,152.
Visa Inc. operates as a leading payment technology company, managing the VisaNet transaction processing network, which supports authorization, clearing, and settlement of payment transactions globally. The company provides a range of services, including credit, debit, and prepaid card products, as well as various digital payment solutions.
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