Daiichi Life Insurance Co. Ltd. boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 7.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,811 shares of the credit-card processor's stock after buying an additional 8,344 shares during the period. Visa makes up 0.9% of Daiichi Life Insurance Co. Ltd.'s investment portfolio, making the stock its 23rd biggest holding. Daiichi Life Insurance Co. Ltd.'s holdings in Visa were worth $39,734,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. XXEC Inc. grew its position in shares of Visa by 153,118.8% in the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor's stock valued at $63,904,097,000 after purchasing an additional 186,138,883 shares in the last quarter. Norges Bank purchased a new stake in Visa during the 4th quarter worth about $5,877,738,000. Cardano Risk Management B.V. lifted its holdings in Visa by 867.6% during the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor's stock worth $2,880,595,000 after purchasing an additional 7,364,762 shares in the last quarter. Diamant Asset Management Inc. lifted its holdings in Visa by 29,706.3% during the 1st quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor's stock worth $2,216,310,000 after purchasing an additional 7,308,345 shares in the last quarter. Finally, J. Stern & Co. LLP boosted its stake in Visa by 12,497.1% in the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor's stock worth $1,184,712,000 after purchasing an additional 3,351,223 shares during the period. Institutional investors own 82.15% of the company's stock.
Insider Buying and Selling at Visa
In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company's stock, valued at $6,625,440. This represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 on Thursday, July 30th. The shares were 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. This trade represents a 53.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 90,759 shares of company stock worth $32,375,779 over the last three months. 0.12% of the stock is owned by insiders.
Visa Price Performance
Shares of NYSE V opened at $371.09 on Friday. The firm has a market capitalization of $662.18 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.99 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock's 50-day simple moving average is $353.73 and its two-hundred day simple moving average is $329.64. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $373.97.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to analysts' expectations of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company's revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.98 EPS. As a group, equities analysts anticipate that Visa Inc. will post 13.16 EPS for the current fiscal year.
Visa declared that its board has approved a share buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.
Visa Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa's dividend payout ratio (DPR) is currently 22.79%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the company. Truist Financial set a $406.00 price target on Visa and gave the company a "buy" rating in a research report on Wednesday, August 5th. Piper Sandler restated an "overweight" rating and issued a $430.00 price objective (up from $394.00) on shares of Visa in a research report on Wednesday, July 29th. Weiss Ratings raised shares of Visa from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 30th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Finally, Erste Group Bank raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, July 27th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $413.58.
Check Out Our Latest Stock Report on Visa
Visa Company Profile
(
Free Report)
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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