E. Ohman J or Asset Management AB boosted its position in shares of Visa Inc. (NYSE:V – Free Report) by 20.4% during the second quarter, Holdings Channel.com reports. The fund owned 292,835 shares of the credit-card processor’s stock after acquiring an additional 49,554 shares during the quarter. Visa accounts for 2.3% of E. Ohman J or Asset Management AB’s investment portfolio, making the stock its 8th largest holding. E. Ohman J or Asset Management AB’s holdings in Visa were worth $100,469,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. PayPay Securities Corp raised its position in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new position in shares of Visa during the 4th quarter valued at $26,000. Parvin Asset Management LLC boosted its holdings in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares during the period. RHL Group LLC bought a new position in Visa in the 4th quarter worth $34,000. Finally, Timmons Wealth Management LLC purchased a new stake in Visa in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Robert W. Baird raised their price target on Visa from $412.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $416.00 price objective on shares of Visa in a research note on Wednesday, July 29th. Wells Fargo & Company reiterated an “overweight” rating and set a $432.00 target price (up from $412.00) on shares of Visa in a research report on Thursday, July 30th. Clear Str raised Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus target price of $413.58.
Insider Buying and Selling
In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares of the company’s stock, valued at $18,125,140.14. The trade was a 53.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 20,970 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $340.25, for a total value of $7,135,042.50. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 90,759 shares of company stock worth $32,375,779. Corporate insiders own 0.12% of the company’s stock.
Visa Price Performance
Visa stock opened at $360.67 on Tuesday. The company has a market cap of $643.59 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.94 and a beta of 0.74. The firm’s fifty day moving average is $345.87 and its 200 day moving average is $327.28. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $373.97.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business had revenue of $11.63 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the company posted $2.98 EPS. The business’s revenue was up 14.4% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 13.14 EPS for the current fiscal year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a $0.67 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 22.79%.
Visa announced that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Visa 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.
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