Rempart Asset Management Inc. Trims Stock Holdings in Visa Inc. $V

Key Points

• Rempart Asset Management Inc. reduced its holdings in Visa Inc. by 3.8% during Q2, maintaining 74,919 shares valued at approximately $26.6 million, making it the firm's 6th largest position.
• Analysts remain optimistic, with most providing a buy rating and an average target price of $385.96 for Visa, following impressive quarterly earnings that exceeded consensus estimates.
• Visa recently announced a quarterly dividend of $0.59, reflecting a 0.7% yield and a payout ratio of 23.05%.

Rempart Asset Management Inc. reduced its position in Visa Inc. (NYSE:V - Free Report) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,919 shares of the credit-card processor's stock after selling 2,979 shares during the quarter. Visa makes up about 5.1% of Rempart Asset Management Inc.'s portfolio, making the stock its 6th largest position. Rempart Asset Management Inc.'s holdings in Visa were worth $26,600,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Keystone Global Partners LLC bought a new stake in shares of Visa in the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the 2nd quarter valued at $28,000. von Borstel & Associates Inc. acquired a new position in shares of Visa during the 1st quarter valued at $27,000. Cranbrook Wealth Management LLC lifted its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares during the period. Finally, Westend Capital Management LLC lifted its position in shares of Visa by 83.1% during the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after acquiring an additional 49 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. UBS Group reiterated a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Stock Performance

V opened at $341.34 on Wednesday. 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 company's fifty day moving average price is $344.23 and its two-hundred day moving average price is $346.51. Visa Inc. has a 1-year low of $273.24 and a 1-year high of $375.51. The company has a market cap of $625.61 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 2.26 and a beta of 0.92.

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 for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

About Visa

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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