Mirae Asset Global Investments Co. Ltd. Raises Position in Visa Inc. (NYSE:V)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 444,037 shares of the credit-card processor's stock after purchasing an additional 13,007 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Visa were worth $152,650,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NewSquare Capital LLC bought a new stake in Visa during the 4th quarter valued at $35,000. Sellwood Investment Partners LLC bought a new stake in Visa during the 4th quarter valued at $41,000. Mountain Hill Investment Partners Corp. bought a new stake in Visa during the 4th quarter valued at $47,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the 4th quarter valued at $47,000. Finally, Global X Japan Co. Ltd. bought a new stake in Visa during the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Trading Up 0.9%

NYSE V opened at $349.13 on Friday. The firm has a market cap of $644.20 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The stock has a 50-day moving average of $353.30 and a 200-day moving average of $340.01. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.51 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on V shares. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Truist Financial started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price target on the stock. UBS Group upped their price target on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 in the last ninety days. 0.13% of the stock is owned by company 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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