Sompo Asset Management Co. Ltd. Grows Stock Holdings in Visa Inc. (NYSE:V)

Sompo Asset Management Co. Ltd. grew its holdings in Visa Inc. (NYSE:V) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,205 shares of the credit-card processor’s stock after acquiring an additional 1,374 shares during the period. Visa accounts for 2.1% of Sompo Asset Management Co. Ltd.’s portfolio, making the stock its 10th largest holding. Sompo Asset Management Co. Ltd.’s holdings in Visa were worth $13,529,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in V. International Assets Investment Management LLC raised its position in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after purchasing an additional 9,736,958 shares during the period. SG Americas Securities LLC raised its position in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. Swedbank AB bought a new stake in shares of Visa during the 1st quarter valued at $511,321,000. Wulff Hansen & CO. raised its position in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after purchasing an additional 1,582,074 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Visa during the 3rd quarter valued at $268,640,000. 82.15% of the stock is currently owned by institutional investors.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated 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 trade was a 94.13 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

V stock opened at $309.92 on Friday. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $312.44. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $289.52 and a 200 day moving average price of $277.34. The stock has a market cap of $577.34 billion, a PE ratio of 31.85, a P/E/G ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the company earned $2.33 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is currently 24.25%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. BMO Capital Markets raised their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler raised their target price on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citigroup raised their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird raised their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $321.74.

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.