Meiji Yasuda Life Insurance Co Purchases 3,792 Shares of Visa Inc. (NYSE:V)

Meiji Yasuda Life Insurance Co lifted its position in Visa Inc. (NYSE:V) by 5.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 73,338 shares of the credit-card processor’s stock after purchasing an additional 3,792 shares during the period. Visa comprises approximately 0.4% of Meiji Yasuda Life Insurance Co’s portfolio, making the stock its 23rd biggest holding. Meiji Yasuda Life Insurance Co’s holdings in Visa were worth $19,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in V. Westend Capital Management LLC purchased a new stake in Visa in the first quarter worth $25,000. Livelsberger Financial Advisory purchased a new stake in Visa in the fourth quarter worth $25,000. POM Investment Strategies LLC lifted its stake in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in Visa in the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC lifted its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.4 %

V stock opened at $291.61 on Wednesday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $533.34 billion, a P/E ratio of 32.58, a PEG ratio of 2.01 and a beta of 0.96. The business’s 50-day moving average price is $269.30 and its 200-day moving average price is $273.27.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Macquarie reissued an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Morgan Stanley lowered their price objective on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Evercore ISI lowered their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, Citigroup lowered their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

About Visa

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.