Visa Inc. (NYSE:V) Holdings Lowered by Rempart Asset Management Inc.

Rempart Asset Management Inc. trimmed its holdings in shares of Visa Inc. (NYSE:VFree Report) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,303 shares of the credit-card processor’s stock after selling 2,132 shares during the period. Visa comprises approximately 5.2% of Rempart Asset Management Inc.’s holdings, making the stock its 4th biggest holding. Rempart Asset Management Inc.’s holdings in Visa were worth $26,327,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Custom Index Systems LLC purchased a new stake in shares of Visa in the third quarter valued at $731,000. Copley Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter valued at about $616,000. FORA Capital LLC purchased a new position in shares of Visa during the 3rd quarter worth about $7,987,000. Chicago Capital LLC boosted its position in shares of Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after acquiring an additional 20,023 shares during the last quarter. Finally, Nexus Investment Management ULC grew its holdings in Visa by 5,034.0% in the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after purchasing an additional 55,273 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of Visa stock traded up $1.23 during trading on Wednesday, reaching $312.90. The company’s stock had a trading volume of 865,626 shares, compared to its average volume of 4,350,646. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The stock has a 50-day moving average price of $310.90 and a two-hundred day moving average price of $286.27. 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 stock has a market capitalization of $582.89 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.

Visa (NYSE:VGet Free Report) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.33 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 24.25%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on V shares. Piper Sandler increased their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their target price on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Mizuho increased their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lifted their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $329.70.

Get Our Latest Stock Report on V

Visa Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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