Visa Inc. (NYSE:V) Stake Trimmed by Generate Investment Management Ltd

Generate Investment Management Ltd cut its position in shares of Visa Inc. (NYSE:V) by 1.7% in the second quarter, Holdings Channel.com reports. The institutional investor owned 100,679 shares of the credit-card processor’s stock after selling 1,760 shares during the period. Visa comprises 1.6% of Generate Investment Management Ltd’s holdings, making the stock its 15th largest position. Generate Investment Management Ltd’s holdings in Visa were worth $26,425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Visa during the 4th quarter valued at $3,895,015,000. National Bank of Canada FI increased its stake in shares of Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after acquiring an additional 4,099,122 shares during the last quarter. Swedbank AB acquired a new stake in Visa during the first quarter valued at $511,321,000. GQG Partners LLC grew its stake in Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in Visa by 14,306.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after purchasing an additional 1,489,856 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.8 %

Shares of V opened at $278.68 on Wednesday. The stock has a fifty day moving average price of $265.80 and a two-hundred day moving average price of $273.05. 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 market cap of $509.69 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 1.95 and a beta of 0.95. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler reduced their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada cut their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Bank of America reissued a “neutral” rating and issued a $297.00 price objective (down from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, Morgan Stanley cut their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $309.16.

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.