Resona Asset Management Co. Ltd. Raises Stake in Visa Inc. (NYSE:V)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Visa Inc. by 7.4%, holding a total of 726,056 shares valued at approximately $253.4 million, making Visa its 8th largest position.
• Visa reported a quarterly earnings per share of $2.98, exceeding estimates by $0.13, along with a 14.3% year-over-year revenue growth of $10.17 billion.
• Visa announced a quarterly dividend of $0.59 per share, with an annual yield of 0.7%, set to be paid to investors on September 2nd.

Resona Asset Management Co. Ltd. raised its position in Visa Inc. (NYSE:V - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 726,056 shares of the credit-card processor's stock after buying an additional 50,219 shares during the quarter. Visa comprises about 1.5% of Resona Asset Management Co. Ltd.'s holdings, making the stock its 8th largest position. Resona Asset Management Co. Ltd.'s holdings in Visa were worth $253,446,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in V. FWL Investment Management LLC raised its stake in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after purchasing an additional 29 shares during the period. Yeomans Consulting Group Inc. raised its stake in shares of 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 purchasing an additional 29 shares during the period. Semus Wealth Partners LLC raised its stake in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares during the period. Capstone Financial Advisors Inc. raised its stake 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 valued at $276,000 after purchasing an additional 30 shares during the period. Finally, Headinvest LLC raised its stake 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 purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Barclays restated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average price target of $380.84.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,100 shares of company stock valued at $27,643,224. 0.13% of the stock is owned by corporate insiders.

Visa Stock Down 0.3%

Shares of NYSE:V opened at $335.94 on Tuesday. Visa Inc. has a 52-week low of $258.74 and a 52-week high of $375.51. The firm has a market capitalization of $615.70 billion, a P/E ratio of 32.81, a P/E/G ratio of 2.25 and a beta of 0.94. The stock has a 50 day moving average price of $352.21 and a 200-day moving average price of $347.30. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.