Visa Inc. $V Shares Bought by Korea Investment CORP

Key Points

• Korea Investment CORP increased its ownership in Visa Inc. by 5.4%, acquiring a total of 1,368,611 shares, making it the 14th largest position in its portfolio.
• Visa has announced a quarterly dividend of $0.59 per share, set to be paid on September 2nd, with a current dividend yield of 0.7%.
• The company's most recent earnings report showed a 14.3% year-over-year revenue growth, with an EPS of $2.98 which surpassed analyst expectations.

Korea Investment CORP lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,368,611 shares of the credit-card processor's stock after acquiring an additional 69,618 shares during the period. Visa makes up 1.2% of Korea Investment CORP's portfolio, making the stock its 14th biggest position. Korea Investment CORP owned about 0.07% of Visa worth $479,643,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. FWL Investment Management LLC boosted its stake 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 valued at $2,005,000 after purchasing an additional 29 shares during the period. Yeomans Consulting Group Inc. boosted its stake 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 acquiring an additional 29 shares during the last quarter. Semus Wealth Partners LLC boosted its stake in 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 acquiring an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. boosted its stake in 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 acquiring an additional 30 shares during the last quarter. Finally, Headinvest LLC boosted its stake in 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. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Down 0.3%

V stock opened at $344.44 on Monday. Visa Inc. has a 52 week low of $265.23 and a 52 week high of $375.51. The company has a market capitalization of $631.29 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94. The firm's 50-day moving average is $350.17 and its two-hundred day moving average is $347.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the firm earned $2.42 EPS. Visa's revenue was up 14.3% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 is Tuesday, August 12th. Visa's payout ratio is 23.05%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were 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. The trade was a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,100 shares of company stock worth $27,643,224 over the last 90 days. 0.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Finally, Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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