Visa Inc. (NYSE:V) Shares Acquired by Iyo Bank Ltd.

Key Points

• Iyo Bank Ltd. increased its stake in Visa Inc. by 7.3%, holding 34,176 shares valued at approximately $11.98 million as of the last reporting period.
• CEO Ryan Mcinerney sold 8,630 shares for over $3 million, marking a 94.14% decrease in his position, while total insider sales amounted to $27.64 million last quarter.
• Visa recently announced a quarterly dividend of $0.59 per share, with a yield of 0.7% and a payout ratio of 23.05%.

Iyo Bank Ltd. increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 7.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,176 shares of the credit-card processor's stock after acquiring an additional 2,320 shares during the period. Visa makes up approximately 3.9% of Iyo Bank Ltd.'s portfolio, making the stock its 8th biggest holding. Iyo Bank Ltd.'s holdings in Visa were worth $11,977,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Tlwm grew its holdings in Visa by 2.3% during the first quarter. Tlwm now owns 5,428 shares of the credit-card processor's stock worth $1,902,000 after acquiring an additional 121 shares during the period. Rossmore Private Capital raised its holdings in Visa by 0.8% during the first quarter. Rossmore Private Capital now owns 33,395 shares of the credit-card processor's stock worth $11,704,000 after purchasing an additional 264 shares during the last quarter. Trajan Wealth LLC raised its holdings in Visa by 3.6% during the first quarter. Trajan Wealth LLC now owns 74,241 shares of the credit-card processor's stock worth $26,019,000 after purchasing an additional 2,578 shares during the last quarter. Core Wealth Partners LLC raised its holdings in Visa by 7.7% during the first quarter. Core Wealth Partners LLC now owns 5,606 shares of the credit-card processor's stock worth $1,965,000 after purchasing an additional 399 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC raised its holdings in Visa by 41.8% during the first quarter. Sustainable Insight Capital Management LLC now owns 1,358 shares of the credit-card processor's stock worth $476,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,100 shares of company stock worth $27,643,224. Corporate insiders own 0.13% of the company's stock.

Visa Trading Up 0.3%

Shares of Visa stock traded up $0.90 during trading hours on Tuesday, hitting $336.80. The company's stock had a trading volume of 5,682,507 shares, compared to its average volume of 6,302,282. Visa Inc. has a 1-year low of $258.74 and a 1-year high of $375.51. The business has a fifty day moving average of $351.62 and a 200 day moving average of $347.23. The company has a market capitalization of $617.28 billion, a PE ratio of 32.89, a P/E/G ratio of 2.24 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

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. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on V. Citigroup began coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Piper Sandler lifted their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group began coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Morgan Stanley increased their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

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.