Voya Investment Management LLC Raises Stock Holdings in Visa Inc. $V

Key Points

• Voya Investment Management LLC increased its holdings in Visa Inc. by 9.6%, bringing its total shares to 2,011,535 and making Visa the firm's 15th largest investment.
• Visa reported quarterly earnings of $2.98 per share, exceeding estimates, with revenue of $10.17 billion, representing a 14.3% year-over-year increase.
• The company recently announced a quarterly dividend of $0.59 per share, which reflects an annualized yield of 0.7% and a payout ratio of 23.05%.

Voya Investment Management LLC increased its position in Visa Inc. (NYSE:V - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,011,535 shares of the credit-card processor's stock after buying an additional 175,770 shares during the quarter. Visa accounts for approximately 0.8% of Voya Investment Management LLC's holdings, making the stock its 15th biggest holding. Voya Investment Management LLC owned about 0.11% of Visa worth $704,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Howe & Rusling Inc. raised its position in Visa by 2.0% during the 1st quarter. Howe & Rusling Inc. now owns 31,912 shares of the credit-card processor's stock valued at $11,184,000 after purchasing an additional 634 shares during the last quarter. Guinness Asset Management LTD raised its position in Visa by 5.3% during the 1st quarter. Guinness Asset Management LTD now owns 148,649 shares of the credit-card processor's stock valued at $52,077,000 after purchasing an additional 7,456 shares during the last quarter. Maple Capital Management Inc. increased its position in Visa by 30.1% during the 1st quarter. Maple Capital Management Inc. now owns 1,938 shares of the credit-card processor's stock valued at $679,000 after purchasing an additional 448 shares during the period. eCIO Inc. purchased a new position in Visa during the 1st quarter valued at $207,000. Finally, CBIZ Investment Advisory Services LLC increased its position in Visa by 159.6% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 283 shares of the credit-card processor's stock valued at $99,000 after purchasing an additional 174 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Price Performance

V opened at $343.28 on Friday. The stock has a market capitalization of $629.16 billion, a P/E ratio of 33.52, a P/E/G ratio of 2.25 and a beta of 0.92. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. 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's 50-day simple moving average is $347.41 and its two-hundred day simple moving average is $347.03.

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

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's 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 in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 completion of the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. Macquarie boosted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. 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 report on Thursday, July 17th. The Goldman Sachs Group initiated coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Finally, UBS Group reissued a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average price target of $385.96.

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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