Visa Inc. (NYSE:V) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. grew its stake in Visa Inc. (NYSE:V) by 5.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,822 shares of the credit-card processor’s stock after acquiring an additional 4,451 shares during the quarter. Visa comprises approximately 0.9% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 15th biggest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Visa were worth $22,788,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Livelsberger Financial Advisory acquired a new stake in Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $25,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.4 %

NYSE V opened at $291.61 on Wednesday. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The firm has a 50 day moving average of $269.30 and a two-hundred day moving average of $273.27. 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 capitalization of $533.34 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. As a group, research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.71%. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on V. Jefferies Financial Group cut their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Evercore ISI decreased their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Piper Sandler lowered their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Macquarie reissued an “outperform” rating and issued a $300.00 price target on shares of Visa in a research note 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Company 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.