Visa Inc. (NYSE:V) Position Decreased by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. decreased its holdings in shares of Visa Inc. (NYSE:V) by 4.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,831 shares of the credit-card processor’s stock after selling 2,430 shares during the quarter. Visa accounts for approximately 2.1% of Sompo Asset Management Co. Ltd.’s portfolio, making the stock its 10th largest position. Sompo Asset Management Co. Ltd.’s holdings in Visa were worth $12,554,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Alaethes Wealth LLC increased its stake in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after buying an additional 37 shares during the period. Jessup Wealth Management Inc lifted its stake in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares during the period. Long Run Wealth Advisors LLC boosted its holdings in Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after acquiring an additional 37 shares in the last quarter. Cordatus Wealth Management LLC raised its holdings in Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC grew its stake in shares of Visa by 1.8% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after buying an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on V. William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Evercore ISI dropped their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Citigroup decreased their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six 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 company’s stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $310.22.

Visa Stock Down 0.2 %

NYSE V opened at $284.67 on Friday. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $518.76 billion, a PE ratio of 31.81, a P/E/G ratio of 2.05 and a beta of 0.96. The stock’s 50 day moving average is $270.65 and its 200 day moving average is $273.49.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 earnings per share. Research analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling

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

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.