W1M Asset Management Ltd Acquires 58,855 Shares of Visa Inc. $V

W1M Asset Management Ltd boosted its stake in Visa Inc. (NYSE:V) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,607,924 shares of the credit-card processor’s stock after purchasing an additional 58,855 shares during the period. Visa makes up about 5.0% of W1M Asset Management Ltd’s investment portfolio, making the stock its 3rd biggest holding. W1M Asset Management Ltd’s holdings in Visa were worth $550,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Madison Wealth Partners Inc lifted its stake in shares of Visa by 12.2% during the second quarter. Madison Wealth Partners Inc now owns 4,233 shares of the credit-card processor’s stock worth $1,452,000 after purchasing an additional 461 shares in the last quarter. Varma Mutual Pension Insurance Co grew its stake in shares of Visa by 3.1% in the second quarter. Varma Mutual Pension Insurance Co now owns 300,341 shares of the credit-card processor’s stock valued at $103,044,000 after buying an additional 9,000 shares in the last quarter. XXEC Inc. raised its holdings in shares of Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after buying an additional 186,138,883 shares during the period. George Kaiser Family Foundation acquired a new position in Visa during the 2nd quarter worth approximately $564,000. Finally, Emerald Investment Advisers LLC boosted its holdings in Visa by 8.0% in the 2nd quarter. Emerald Investment Advisers LLC now owns 30,635 shares of the credit-card processor’s stock worth $10,511,000 after acquiring an additional 2,271 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Visa stock opened at $371.09 on Friday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $373.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market cap of $662.18 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74. The stock has a 50 day moving average of $353.73 and a 200-day moving average of $329.64.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.98 earnings per share. On average, analysts expect that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Visa Announces Dividend

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,219,704.26. This trade represents a 40.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 90,759 shares of company stock worth $32,375,779 over the last quarter. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Visa from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Clear Str upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $432.00 price target (up from $412.00) on shares of Visa in a report on Thursday, July 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $416.00 price target on shares of Visa in a research note on Wednesday, July 29th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $406.00 price objective on shares of Visa in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Buy” and an average target price of $413.58.

Visa Company 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.