SouthState Corp Purchases 587 Shares of Visa Inc. (NYSE:V)

SouthState Corp lifted its position in Visa Inc. (NYSE:V) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 80,117 shares of the credit-card processor’s stock after acquiring an additional 587 shares during the quarter. Visa comprises approximately 1.5% of SouthState Corp’s portfolio, making the stock its 16th largest holding. SouthState Corp’s holdings in Visa were worth $22,028,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in V. Peterson Financial Group Inc. bought a new position in Visa during the third quarter valued at about $26,000. POM Investment Strategies LLC grew its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC bought a new position in Visa during the third quarter valued at about $31,000. TruNorth Capital Management LLC grew its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Finally, Abich Financial Wealth Management LLC grew its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.8 %

Shares of NYSE V opened at $312.16 on Tuesday. Visa Inc. has a one year low of $245.60 and a one year high of $312.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s 50 day simple moving average is $287.57 and its two-hundred day simple moving average is $276.32. The stock has a market capitalization of $568.85 billion, a P/E ratio of 32.08, a PEG ratio of 2.07 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS 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 business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the business earned $2.33 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several recent research reports. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a report on Tuesday, September 3rd. Piper Sandler upped their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Royal Bank of Canada upped their price objective on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Mizuho upped their price objective on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $321.74.

About Visa

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.