Freemont Management S.A. Has $852,000 Stock Holdings in Visa Inc. $V

Freemont Management S.A. raised its holdings in Visa Inc. (NYSE:V) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,400 shares of the credit-card processor’s stock after acquiring an additional 600 shares during the quarter. Freemont Management S.A.’s holdings in Visa were worth $852,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Los Angeles Capital Management LLC grew its stake in shares of Visa by 0.3% in the second quarter. Los Angeles Capital Management LLC now owns 1,322,984 shares of the credit-card processor’s stock worth $469,725,000 after purchasing an additional 4,122 shares during the last quarter. Prospera Financial Services Inc lifted its holdings in Visa by 32.3% during the 2nd quarter. Prospera Financial Services Inc now owns 89,364 shares of the credit-card processor’s stock worth $31,748,000 after buying an additional 21,837 shares during the period. AGF Management Ltd. grew its position in shares of Visa by 25.0% in the 2nd quarter. AGF Management Ltd. now owns 529,162 shares of the credit-card processor’s stock valued at $187,879,000 after buying an additional 105,817 shares during the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Visa in the 2nd quarter valued at about $41,000. Finally, True Wealth Design LLC increased its stake in shares of Visa by 29.7% in the second quarter. True Wealth Design LLC now owns 153 shares of the credit-card processor’s stock valued at $54,000 after buying an additional 35 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,897 shares of company stock valued at $8,164,561 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 0.3%

Visa stock opened at $335.91 on Friday. The company has a market capitalization of $615.66 billion, a PE ratio of 32.90, a PEG ratio of 2.03 and a beta of 0.87. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The firm’s fifty day moving average is $343.52 and its 200 day moving average is $348.74. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the company posted $2.71 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 23.11%.

Wall Street Analyst Weigh In

A number of research firms recently commented on V. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Barclays reaffirmed an “overweight” rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Morgan Stanley set a $398.00 target price on shares of Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $400.00.

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.