Impax Asset Management Group plc boosted its position in Visa Inc. (NYSE:V – Free Report) by 21.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,587 shares of the credit-card processor’s stock after purchasing an additional 11,451 shares during the quarter. Impax Asset Management Group plc’s holdings in Visa were worth $22,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. LaSalle St. Investment Advisors LLC increased its holdings in shares of Visa by 4.1% in the 2nd quarter. LaSalle St. Investment Advisors LLC now owns 7,001 shares of the credit-card processor’s stock worth $2,402,000 after buying an additional 276 shares during the last quarter. Advisors Preferred LLC lifted its position in Visa by 74.9% in the 2nd quarter. Advisors Preferred LLC now owns 9,969 shares of the credit-card processor’s stock worth $3,610,000 after buying an additional 4,269 shares during the last quarter. KilterHowling LLC boosted its stake in Visa by 5.5% in the second quarter. KilterHowling LLC now owns 4,297 shares of the credit-card processor’s stock worth $1,474,000 after buying an additional 223 shares in the last quarter. Fairtree Asset Management Pty Ltd boosted its stake in Visa by 16.7% in the second quarter. Fairtree Asset Management Pty Ltd now owns 13,780 shares of the credit-card processor’s stock worth $4,728,000 after buying an additional 1,967 shares in the last quarter. Finally, Kilter Group LLC raised its stake in shares of Visa by 2.4% during the second quarter. Kilter Group LLC now owns 2,304 shares of the credit-card processor’s stock worth $790,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Visa Stock Performance
Shares of V opened at $366.31 on Friday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97. The business’s fifty day simple moving average is $352.75 and its two-hundred day simple moving average is $329.35. The company has a market cap of $653.65 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 1.96 and a beta of 0.74. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.
Visa announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 11th. Visa’s dividend payout ratio is 22.79%.
Insider Activity
In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of the firm’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 owned 49,662 shares in the company, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 90,759 shares of company stock valued at $32,375,779 in the last quarter. 0.12% of the stock is currently owned by insiders.
Analyst Ratings Changes
V has been the subject of several recent research reports. Erste Group Bank upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. Raymond James Financial restated an “outperform” rating and issued a $406.00 price objective on shares of Visa in a report on Wednesday, July 29th. Truist Financial set a $406.00 price objective on Visa and gave the company a “buy” rating in a research report on Wednesday, August 5th. Cantor Fitzgerald set a $445.00 target price on shares of Visa and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $432.00 price target (up from $412.00) on shares of Visa in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $413.58.
Read Our Latest Stock Report on Visa
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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