Mitsubishi UFJ Asset Management UK Ltd. Raises Holdings in Visa Inc. $V

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. significantly increased its holdings in Visa Inc. by 175% in the second quarter, now owning a total of 5,500 shares valued at approximately $1.95 million.
• Visa reported earnings per share of $2.98 for the most recent quarter, exceeding estimates and marking a 14.3% year-over-year revenue increase.
• The company's recent quarterly dividend was $0.59 per share, representing an annualized yield of 0.7% and a payout ratio of 23.05%.

Mitsubishi UFJ Asset Management UK Ltd. raised its position in Visa Inc. (NYSE:V - Free Report) by 175.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,500 shares of the credit-card processor's stock after acquiring an additional 3,500 shares during the quarter. Visa makes up about 1.0% of Mitsubishi UFJ Asset Management UK Ltd.'s holdings, making the stock its 27th biggest holding. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Visa were worth $1,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Annex Advisory Services LLC raised its holdings in Visa by 2.8% during the first quarter. Annex Advisory Services LLC now owns 182,935 shares of the credit-card processor's stock worth $64,111,000 after purchasing an additional 4,991 shares in the last quarter. Vest Financial LLC raised its holdings in Visa by 25.5% during the first quarter. Vest Financial LLC now owns 141,927 shares of the credit-card processor's stock worth $49,740,000 after purchasing an additional 28,870 shares in the last quarter. Finally, Foster Group Inc. raised its holdings in Visa by 25.7% during the first quarter. Foster Group Inc. now owns 3,236 shares of the credit-card processor's stock worth $1,134,000 after purchasing an additional 661 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V opened at $349.90 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock's 50 day moving average is $343.78 and its two-hundred day moving average is $346.70. The firm has a market capitalization of $641.29 billion, a PE ratio of 34.17, a P/E/G ratio of 2.05 and a beta of 0.90. Visa Inc. has a twelve month low of $273.24 and a twelve month high of $375.51.

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 (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 analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.42 earnings per share. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's payout ratio is currently 23.05%.

Analyst Ratings Changes

A number of research firms recently commented on V. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Barclays reissued an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Oppenheimer boosted their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, UBS Group reaffirmed a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently 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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