Clal Insurance Enterprises Holdings Ltd Raises Stock Position in Visa Inc. $V

Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Visa Inc. (NYSE:V) by 23.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 200,143 shares of the credit-card processor’s stock after acquiring an additional 37,959 shares during the period. Clal Insurance Enterprises Holdings Ltd’s holdings in Visa were worth $60,491,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Brighton Jones LLC increased its stake in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its position in shares of Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after purchasing an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY increased its stake in shares of Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after acquiring an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its position in Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after purchasing an additional 2,230 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the subject of several recent analyst reports. Truist Financial set a $371.00 target price on Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the stock an “outperform” rating in a research report on Monday, July 6th. UBS Group boosted their target price on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Evercore set a $350.00 price target on Visa in a research note on Wednesday, April 29th. Finally, Oppenheimer restated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Seven analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $398.36.

Insider Activity

In other Visa news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is currently owned by corporate insiders.

Visa Price Performance

Visa stock opened at $355.94 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. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $365.14. The firm has a market cap of $638.47 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.92 and a beta of 0.75. The company’s 50 day moving average is $335.74 and its two-hundred day moving average is $325.08.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $2.76 earnings per share. On average, research analysts expect that Visa Inc. will post 13.13 EPS for the current fiscal year.

Visa Dividend Announcement

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

Visa declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is 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.