Asset Management One Co. Ltd. Trims Stock Position in Visa Inc. (NYSE:V)

Asset Management One Co. Ltd. cut its holdings in shares of Visa Inc. (NYSE:VGet Rating) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 910,758 shares of the credit-card processor’s stock after selling 19,509 shares during the quarter. Visa comprises approximately 0.8% of Asset Management One Co. Ltd.’s portfolio, making the stock its 12th biggest holding. Asset Management One Co. Ltd.’s holdings in Visa were worth $161,796,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Bishop Rock Capital L.P. grew its stake in shares of Visa by 20,610.1% in the second quarter. Bishop Rock Capital L.P. now owns 5,031,721 shares of the credit-card processor’s stock valued at $25,556,000 after buying an additional 5,007,425 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Visa by 290.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,428,383 shares of the credit-card processor’s stock valued at $786,702,000 after purchasing an additional 3,295,642 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Visa by 222.7% in the second quarter. Voya Investment Management LLC now owns 2,499,636 shares of the credit-card processor’s stock valued at $492,154,000 after purchasing an additional 1,724,984 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in Visa in the third quarter valued at about $291,294,000. Finally, GQG Partners LLC boosted its holdings in Visa by 34.2% in the second quarter. GQG Partners LLC now owns 5,801,831 shares of the credit-card processor’s stock valued at $1,142,979,000 after purchasing an additional 1,479,834 shares during the last quarter. 81.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. UBS Group reduced their price target on Visa from $290.00 to $287.00 and set a “buy” rating for the company in a report on Thursday, December 15th. Barclays reduced their target price on Visa from $271.00 to $264.00 and set an “overweight” rating on the stock in a report on Thursday, October 27th. Truist Financial increased their target price on Visa from $235.00 to $260.00 in a report on Friday. Wells Fargo & Company increased their target price on Visa from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 2nd. Finally, Wolfe Research increased their target price on Visa from $240.00 to $255.00 in a report on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $255.07.

Insider Transactions at Visa

In related news, insider Rajat Taneja sold 25,627 shares of Visa stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total transaction of $5,552,602.09. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at $50,291,707.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Ryan Mcinerney sold 58,197 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Rajat Taneja sold 25,627 shares of the business’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the transaction, the insider now owns 232,112 shares in the company, valued at $50,291,707.04. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Visa Stock Performance

Shares of NYSE V opened at $224.48 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $422.81 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 1.81 and a beta of 0.95. The stock’s fifty day simple moving average is $212.30 and its 200 day simple moving average is $204.35. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $235.85.

Visa (NYSE:VGet Rating) last issued its earnings results on Tuesday, October 25th. The credit-card processor reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.07. The business had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.55 billion. Visa had a return on equity of 48.56% and a net margin of 51.03%. As a group, sell-side analysts forecast that Visa Inc. will post 8.29 earnings per share for the current fiscal year.

Visa Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were given a $0.395 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $1.58 annualized dividend and a dividend yield of 0.70%. Visa’s dividend payout ratio (DPR) is presently 25.75%.

Visa announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 25th that allows the company to buyback $12.00 billion in shares. This buyback authorization allows the credit-card processor to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

About Visa

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).

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Institutional Ownership by Quarter for Visa (NYSE:V)

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