Resona Asset Management Co. Ltd. Purchases New Position in Visa Inc. (NYSE:V)

Resona Asset Management Co. Ltd. acquired a new position in shares of Visa Inc. (NYSE:V) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 675,837 shares of the credit-card processor’s stock, valued at approximately $213,888,000. Visa comprises 1.3% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 10th largest holding.

A number of other institutional investors also recently made changes to their positions in the company. ROI Financial Advisors LLC boosted its position in shares of Visa by 2.0% in the fourth quarter. ROI Financial Advisors LLC now owns 18,277 shares of the credit-card processor’s stock valued at $5,776,000 after acquiring an additional 355 shares during the period. Lynwood Price Capital Management LP acquired a new position in shares of Visa during the 4th quarter worth approximately $1,580,000. Kidder Stephen W raised its position in shares of Visa by 5.0% in the fourth quarter. Kidder Stephen W now owns 1,067 shares of the credit-card processor’s stock valued at $337,000 after buying an additional 51 shares in the last quarter. Leeward Financial Partners LLC boosted its stake in shares of Visa by 3.8% in the fourth quarter. Leeward Financial Partners LLC now owns 15,159 shares of the credit-card processor’s stock valued at $4,791,000 after buying an additional 551 shares during the period. Finally, Landscape Capital Management L.L.C. grew its position in Visa by 16.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 29,317 shares of the credit-card processor’s stock worth $9,265,000 after buying an additional 4,050 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on V. Wells Fargo & Company upped their target price on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group increased their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Susquehanna reaffirmed a “positive” rating on shares of Visa in a report on Friday, March 21st. Oppenheimer restated an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,842,490 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 7.6 %

Shares of NYSE:V opened at $313.46 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market cap of $582.34 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.33 and a beta of 0.94. The business has a fifty day simple moving average of $345.02 and a 200 day simple moving average of $316.89.

Visa (NYSE:V) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

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.