Norinchukin Bank The Lowers Stake in Visa Inc. $V

Key Points

• Norinchukin Bank has reduced its stake in Visa Inc. by 0.5% during the 1st quarter, now holding 228,843 shares valued at approximately $80.2 million.
• Visa recently reported quarterly earnings of $2.98 per share, exceeding analysts' expectations, with revenue of $10.17 billion, marking a 14.3% year-over-year increase.
• Visa has declared a quarterly dividend of $0.59, scheduled for payment on September 2nd, representing an annual yield of 0.7%.

Norinchukin Bank The cut its stake in Visa Inc. (NYSE:V - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 228,843 shares of the credit-card processor's stock after selling 1,166 shares during the period. Visa comprises approximately 1.5% of Norinchukin Bank The's portfolio, making the stock its 11th largest position. Norinchukin Bank The's holdings in Visa were worth $80,200,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in V. FWL Investment Management LLC increased its holdings in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after purchasing an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. grew its holdings in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after buying an additional 29 shares in the last quarter. Semus Wealth Partners LLC increased its stake in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after acquiring an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. raised its holdings in shares of Visa by 3.6% during the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after acquiring an additional 30 shares in the last quarter. Finally, Headinvest LLC boosted its position in shares of Visa by 0.8% during the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 77,127 shares of company stock worth $28,340,553 in the last 90 days. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on V shares. Macquarie boosted their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Piper Sandler upped their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Barclays reissued an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Performance

Visa stock opened at $343.99 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $630.46 billion, a P/E ratio of 33.59, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. Visa Inc. has a 1-year low of $265.31 and a 1-year high of $375.51. The company's 50-day moving average is $348.54 and its 200 day moving average is $347.39.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company earned $2.42 EPS. Research analysts forecast 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. Investors of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is currently 23.05%.

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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