Manitou Investment Management Ltd. Has $2.89 Million Holdings in Visa Inc. $V

Manitou Investment Management Ltd. lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 111.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,412 shares of the credit-card processor's stock after buying an additional 4,426 shares during the quarter. Visa comprises approximately 0.5% of Manitou Investment Management Ltd.'s investment portfolio, making the stock its 15th largest holding. Manitou Investment Management Ltd.'s holdings in Visa were worth $2,886,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor's stock worth $56,455,834,000 after purchasing an additional 1,054,343 shares during the period. State Street Corp raised its holdings in shares of Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor's stock valued at $29,038,140,000 after purchasing an additional 626,821 shares during the period. Geode Capital Management LLC raised its holdings in shares of Visa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor's stock valued at $15,411,395,000 after purchasing an additional 388,996 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Visa by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor's stock worth $14,411,480,000 after purchasing an additional 716,218 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Visa by 1.7% during the 4th quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor's stock worth $8,359,291,000 after purchasing an additional 398,459 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,490 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company's stock, valued at approximately $5,219,704.26. This represents a 40.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $20,902,561.84. Following the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 101,398 shares of company stock worth $35,831,433. 0.12% of the stock is owned by corporate insiders.

Visa Trading Up 0.4%

V opened at $370.11 on Friday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $373.97. The firm has a market capitalization of $663.89 billion, a PE ratio of 31.47, a P/E/G ratio of 1.98 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The company's 50-day moving average is $344.41 and its 200 day moving average is $326.79.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.98 EPS. As a group, research analysts predict that Visa Inc. will post 13.14 earnings per share for the current fiscal year.

Visa announced that its Board of Directors has initiated a share buyback program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Visa Dividend Announcement

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 given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is presently 22.79%.

Visa News Roundup

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa agreed to acquire fraud-intelligence provider BioCatch for $2.4 billion in cash. The transaction would expand Visa’s artificial-intelligence and cybersecurity capabilities, helping banks and merchants combat account takeovers, scams and other increasingly costly payment fraud. The deal also strengthens Visa’s competitive position against Mastercard in payment security. Visa vs. Mastercard: BioCatch Acquisition
• Positive Sentiment: Visa is moving stablecoin capabilities into production through Visa Direct and a partnership with Zero Hash, enabling stablecoin payouts and prefunding across eligible cards, accounts and wallets in 195 countries and territories. This could broaden Visa’s cross-border payment volume and preserve its role as digital currencies expand. Visa Stablecoin Cross-Border Payouts
• Positive Sentiment: Western Union’s Visa-branded Stablecard, initially launching in 37 markets, will let users hold and spend a dollar-backed stablecoin anywhere Visa is accepted. The rollout offers Visa additional exposure to remittances, digital wallets and cross-border transactions. Western Union Stablecard on Visa Network
• Neutral Sentiment: Industry commentary remains constructive on cross-border payment growth and strategic expansion, but warns that higher technology spending and pressure on consumer spending could weigh on margins across transaction-processing companies. Financial Transaction Stocks Outlook
• Negative Sentiment: Visa reportedly cut approximately 2,600 jobs, including 320 positions in California. Although the restructuring could improve efficiency and lower costs over time, the scale of the layoffs may raise concerns about near-term disruption, employee morale and management execution. Visa Job Cuts

Analyst Ratings Changes

A number of analysts recently commented on V shares. Evercore set a $350.00 target price on Visa in a research report on Wednesday, April 29th. Clear Str upgraded Visa to a "strong-buy" rating in a report on Thursday, July 16th. Sanford C. Bernstein reissued an "outperform" rating and issued a $450.00 price objective on shares of Visa in a research note on Tuesday, June 2nd. Raymond James Financial restated an "outperform" rating and set a $406.00 price objective on shares of Visa in a report on Wednesday, July 29th. Finally, BNP Paribas Exane raised Visa to a "strong-buy" rating in a research report on Tuesday, July 21st. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $413.58.

Visa Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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