Visa Inc. (NYSE:V) is Charles Lim Capital Ltd’s 2nd Largest Position

Charles Lim Capital Ltd raised its position in Visa Inc. (NYSE:V) by 225.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 325,000 shares of the credit-card processor’s stock after buying an additional 225,000 shares during the period. Visa makes up about 20.9% of Charles Lim Capital Ltd’s holdings, making the stock its 2nd biggest holding. Charles Lim Capital Ltd’s holdings in Visa were worth $85,303,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westend Capital Management LLC bought a new position in shares of Visa during the first quarter worth about $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa during the fourth quarter worth about $25,000. POM Investment Strategies LLC lifted its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC lifted its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by insiders.

Visa Trading Up 0.4 %

Shares of NYSE:V opened at $291.61 on Wednesday. The stock has a market capitalization of $533.34 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 2.01 and a beta of 0.96. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a 50 day moving average price of $269.30 and a 200 day moving average price of $273.27.

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

Visa Announces Dividend

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

Analysts Set New Price Targets

V has been the topic of several research reports. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Jefferies Financial Group dropped their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

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.