E Fund Management Co. Ltd. Has $6.76 Million Holdings in Visa Inc. $V

E Fund Management Co. Ltd. boosted its holdings in Visa Inc. (NYSE:V) by 13.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,718 shares of the credit-card processor’s stock after acquiring an additional 2,351 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Visa were worth $6,765,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in V. G&S Capital LLC lifted its position in shares of Visa by 4.0% during the second quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock valued at $261,000 after purchasing an additional 29 shares in the last quarter. NerdWallet Wealth Partners LLC increased its stake in Visa by 4.5% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock valued at $239,000 after buying an additional 30 shares during the last quarter. Planned Solutions Inc. lifted its position in shares of Visa by 2.0% during the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after buying an additional 31 shares in the last quarter. Frederick Financial Consultants LLC grew its holdings in shares of Visa by 2.0% in the fourth quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after acquiring an additional 31 shares in the last quarter. Finally, Kuhn & Co Investment Counsel grew its holdings in shares of Visa by 0.5% in the fourth quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock valued at $2,138,000 after acquiring an additional 32 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on V. Susquehanna reiterated a “positive” rating and set a $427.00 price target (up from $410.00) on shares of Visa in a report on Wednesday, July 29th. Wolfe Research restated an “outperform” rating and set a $435.00 price target (up from $430.00) on shares of Visa in a research report on Wednesday, July 29th. Piper Sandler restated an “overweight” rating and set a $430.00 price objective (up from $394.00) on shares of Visa in a report on Wednesday, July 29th. Erste Group Bank upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, July 27th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $450.00 target price on shares of Visa in a research report on Tuesday, June 2nd. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $413.58.

Insiders Place Their Bets

In related news, insider Tullier Kelly Mahon sold 57,272 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares in the company, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,490 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,219,704.26. This trade represents a 40.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 90,759 shares of company stock worth $32,375,779 over the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Visa Price Performance

V opened at $366.31 on Friday. The company has a market capitalization of $653.65 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 1.96 and a beta of 0.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $352.75 and a 200-day moving average price of $329.35. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $373.97.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. Visa’s revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.98 EPS. Equities analysts expect that Visa Inc. will post 13.16 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is presently 22.79%.

Visa declared that its board has approved a share repurchase plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.