Mediolanum International Funds Ltd Acquires 8,242 Shares of Visa Inc. (NYSE:V)

Key Points

• Mediolanum International Funds Ltd has increased its stake in Visa Inc. by 2.5%, now holding 340,317 shares worth $116.68 million, making Visa its 8th largest investment.
• Other significant institutional investors, such as GAMMA Investing LLC, increased their holdings in Visa by over 38,000%, reflecting strong interest in Visa from major financial entities.
• Visa's recent earnings report showed an EPS of $2.76, exceeding expectations, alongside a revenue of $9.59 billion, marking a 9.3% increase compared to the previous year.

Mediolanum International Funds Ltd increased its position in Visa Inc. (NYSE:V - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 340,317 shares of the credit-card processor's stock after purchasing an additional 8,242 shares during the quarter. Visa makes up about 1.6% of Mediolanum International Funds Ltd's portfolio, making the stock its 8th biggest position. Mediolanum International Funds Ltd's holdings in Visa were worth $116,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the 4th quarter valued at $47,000. Navigoe LLC purchased a new stake in shares of Visa during the 4th quarter valued at $53,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the 1st quarter valued at $54,000. Finally, Hurley Capital LLC purchased a new stake in shares of Visa during the 4th quarter valued at $56,000. Institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on V. Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price for the company. Barclays reissued an "overweight" rating on shares of Visa in a report on Friday, June 13th. Piper Sandler upped their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Morgan Stanley raised their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $377.16.

Visa Stock Up 0.5%

Visa stock traded up $1.87 during midday trading on Wednesday, reaching $353.16. The company's stock had a trading volume of 6,087,117 shares, compared to its average volume of 6,558,146. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $651.64 billion, a P/E ratio of 35.49, a P/E/G ratio of 2.40 and a beta of 0.92. The business has a 50-day simple moving average of $355.76 and a 200-day simple moving average of $345.83.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results 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. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the business earned $2.42 EPS. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 in the last quarter. Company insiders own 0.13% of the company's stock.

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.