E Fund Management Co. Ltd. Purchases 8,021 Shares of Visa Inc. (NYSE:V)

Key Points

• E Fund Management Co. Ltd. increased its holdings in Visa Inc. by 43.2%, purchasing an additional 8,021 shares to total 26,601 shares with a value of approximately $9.32 million.
• The latest quarterly earnings reported by Visa showed an EPS of $2.98, surpassing estimates and indicating a revenue increase of 14.3% year-over-year, with the company projecting an EPS of 11.3 for the current fiscal year.
• Visa announced a quarterly dividend of $0.59 per share, marking an annualized dividend yield of 0.7%, with the record date set for August 12th.

E Fund Management Co. Ltd. lifted its position in Visa Inc. (NYSE:V - Free Report) by 43.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,601 shares of the credit-card processor's stock after buying an additional 8,021 shares during the period. E Fund Management Co. Ltd.'s holdings in Visa were worth $9,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. von Borstel & Associates Inc. bought a new position in Visa during the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. bought a new position in Visa during the fourth quarter valued at approximately $47,000. Navigoe LLC bought a new position in Visa during the fourth quarter valued at approximately $53,000. O Brien Wealth Partners LLC bought a new position in Visa during the first quarter valued at approximately $54,000. Finally, Global X Japan Co. Ltd. bought a new position in Visa during the first quarter valued at approximately $56,000. Institutional investors own 82.15% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on V shares. Oppenheimer increased their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating on the stock. Jefferies Financial Group increased their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "neutral" rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Trading Up 0.3%

NYSE:V opened at $336.80 on Wednesday. Visa Inc. has a one year low of $258.74 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $617.28 billion, a P/E ratio of 32.89, a P/E/G ratio of 2.24 and a beta of 0.94. The firm has a 50-day simple moving average of $351.62 and a 200-day simple moving average of $347.23.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.42 EPS. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is owned by insiders.

Visa 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.

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