iA Global Asset Management Inc. Has $145.75 Million Holdings in Visa Inc. (NYSE:V)

Key Points

• iA Global Asset Management Inc. reduced its holdings in Visa Inc. by 15.0%, now owning 415,884 shares valued at approximately $145.75 million, making it the fund's 6th largest position.
• Visa reported a quarterly earnings per share of $2.98, exceeding analyst expectations, with revenue of $10.17 billion, marking a 14.3% increase year-over-year.
• The company declared a quarterly dividend of $0.59 per share, representing a 0.7% dividend yield, with a payout ratio of 23.05%.

iA Global Asset Management Inc. decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 415,884 shares of the credit-card processor's stock after selling 73,595 shares during the period. Visa comprises about 2.5% of iA Global Asset Management Inc.'s portfolio, making the stock its 6th largest holding. iA Global Asset Management Inc.'s holdings in Visa were worth $145,751,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. grew its stake in Visa by 634.8% during the 1st quarter. McClarren Financial Advisors Inc. now owns 1,205 shares of the credit-card processor's stock worth $422,000 after buying an additional 1,041 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Visa by 21.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 6,995 shares of the credit-card processor's stock valued at $2,451,000 after buying an additional 1,221 shares during the last quarter. Empower Advisory Group LLC boosted its holdings in shares of Visa by 0.7% during the first quarter. Empower Advisory Group LLC now owns 17,036 shares of the credit-card processor's stock valued at $5,970,000 after acquiring an additional 125 shares during the period. Costello Asset Management INC grew its position in shares of Visa by 52.2% during the first quarter. Costello Asset Management INC now owns 16,937 shares of the credit-card processor's stock worth $5,936,000 after acquiring an additional 5,808 shares during the last quarter. Finally, Commonwealth Retirement Investments LLC increased its holdings in shares of Visa by 1.9% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 9,632 shares of the credit-card processor's stock worth $3,376,000 after acquiring an additional 176 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of NYSE V opened at $342.12 on Tuesday. The firm has a market capitalization of $631.27 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.26 and a beta of 0.94. Visa Inc. has a one year low of $254.51 and a one year high of $375.51. The business has a fifty day simple moving average of $354.82 and a 200 day simple moving average of $346.91. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Announces Dividend

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

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Raymond James Financial reissued an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Morgan Stanley boosted their price target on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. BMO Capital Markets increased their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the transaction, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock worth $32,902,432 over the last three months. 0.13% of the stock is owned by insiders.

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.

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