Triasima Portfolio Management inc. Purchases 3,657 Shares of Visa Inc. $V

Key Points

• Triasima Portfolio Management Inc. increased its stake in Visa Inc. by 27.1%, purchasing an additional 3,657 shares in the second quarter, bringing their total holdings to 17,137 shares worth approximately $6.08 million.
• Visa reported a quarterly earnings per share (EPS) of $2.98, exceeding analyst expectations of $2.85, and achieved $10.17 billion in revenue, reflecting a 14.3% year-over-year increase.
• The company recently declared a quarterly dividend of $0.59 per share, which results in an annual dividend yield of 0.7% and a payout ratio of 23.05%.

Triasima Portfolio Management inc. grew its position in shares of Visa Inc. (NYSE:V - Free Report) by 27.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,137 shares of the credit-card processor's stock after purchasing an additional 3,657 shares during the period. Visa comprises about 1.1% of Triasima Portfolio Management inc.'s holdings, making the stock its 29th largest holding. Triasima Portfolio Management inc.'s holdings in Visa were worth $6,084,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC lifted its stake in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after acquiring an additional 81 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC lifted its stake in shares of Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock valued at $564,000 after acquiring an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC bought a new stake in shares of Visa in the 2nd quarter valued at about $862,000. Finally, Iron Gate Global Advisors LLC lifted its stake in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Stock Down 1.0%

V stock opened at $343.63 on Friday. Visa Inc. has a fifty-two week low of $275.37 and a fifty-two week high of $375.51. The business's 50 day moving average price is $343.77 and its two-hundred day moving average price is $346.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $629.79 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping 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 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 business earned $2.42 EPS. The business's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's 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 sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents 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 corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on V. Robert W. Baird set a $410.00 target price on Visa and gave the company an "outperform" rating in a research note on Monday. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a report on Monday, September 22nd. UBS Group restated a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.

Visa Company 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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