Nissay Asset Management Corp Japan ADV Trims Position in Visa Inc. $V

Key Points

• Nissay Asset Management Corp Japan ADV reduced its stake in Visa Inc. by 2.3%, holding 324,878 shares worth approximately $113.86 million after selling 7,703 shares in the first quarter.
• Visa reported earnings of $2.98 per share, surpassing estimates, with a revenue of $10.17 billion, reflecting a 14.3% year-over-year increase.
• Analysts have generally maintained a positive outlook on Visa, with an average target price of $385.96 and a consensus rating of "Moderate Buy."

Nissay Asset Management Corp Japan ADV reduced its position in Visa Inc. (NYSE:V - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 324,878 shares of the credit-card processor's stock after selling 7,703 shares during the quarter. Visa makes up about 0.7% of Nissay Asset Management Corp Japan ADV's investment portfolio, making the stock its 24th largest holding. Nissay Asset Management Corp Japan ADV's holdings in Visa were worth $113,857,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of V. Lakeridge Wealth Management LLC lifted its holdings in shares of Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Visa by 7.7% in the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after buying an additional 43,546 shares in the last quarter. FJ Capital Management LLC purchased a new position in shares of Visa in the fourth quarter worth $283,000. Finally, Yeomans Consulting Group Inc. lifted its holdings in shares of Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after buying an additional 29 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Morgan Stanley boosted their target price on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and upped their price target for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $385.96.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value 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. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,293 shares of company stock valued at $8,114,295. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

Visa stock traded down $7.98 during mid-day trading on Friday, reaching $343.02. 5,447,231 shares of the company's stock traded hands, compared to its average volume of 5,060,212. The company has a market cap of $628.67 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.28 and a beta of 0.92. The stock has a 50 day moving average of $348.51 and a two-hundred day moving average of $347.22. 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 Inc. has a 12-month low of $268.23 and a 12-month high of $375.51.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend 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%.

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.