Visa Inc. $V Shares Purchased by Meitav Investment House Ltd.

Meitav Investment House Ltd. raised its holdings in Visa Inc. (NYSE:VFree Report) by 63.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 449,225 shares of the credit-card processor’s stock after purchasing an additional 173,777 shares during the quarter. Visa accounts for about 1.5% of Meitav Investment House Ltd.’s holdings, making the stock its 20th biggest position. Meitav Investment House Ltd.’s holdings in Visa were worth $135,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Visa by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after buying an additional 1,054,343 shares during the period. State Street Corp grew its holdings in Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after acquiring an additional 626,821 shares during the period. Geode Capital Management LLC raised its position in Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after acquiring an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after acquiring an additional 716,218 shares in the last quarter. Finally, Capital World Investors lifted its holdings in Visa by 0.8% in the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock valued at $8,463,484,000 after acquiring an additional 193,288 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 1.4%

V opened at $352.21 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market cap of $631.79 billion, a P/E ratio of 30.68, a PEG ratio of 1.91 and a beta of 0.75. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.02. The business’s fifty day simple moving average is $328.99 and its 200 day simple moving average is $324.88.

Visa (NYSE:VGet Free Report) last announced its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.76 EPS. As a group, equities research analysts anticipate that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is 23.34%.

Visa declared that its board has authorized a share buyback program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup decreased their target price on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. BMO Capital Markets began coverage on shares of Visa in a report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price target for the company. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday. UBS Group boosted their price objective on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Truist Financial set a $371.00 target price on shares of Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Six analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $397.39.

Read Our Latest Analysis on V

Key Visa News

Here are the key news stories impacting Visa this week:

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. 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, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 75,581 shares of company stock valued at $25,627,975 over the last 90 days. Insiders own 0.12% of the company’s stock.

Visa Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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