Lecap Asset Management Ltd. Takes Position in Visa Inc. (NYSE:V)

Lecap Asset Management Ltd. acquired a new stake in Visa Inc. (NYSE:V) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,974 shares of the credit-card processor’s stock, valued at approximately $4,455,000. Visa makes up 1.0% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of V. Vanguard Group Inc. increased its stake in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors increased its stake in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors increased its stake in Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Norges Bank acquired a new position in Visa in the fourth quarter valued at $3,895,015,000. Finally, Jennison Associates LLC increased its stake in Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.0 %

Shares of NYSE:V traded up $0.10 during trading on Wednesday, reaching $268.15. The stock had a trading volume of 6,639,302 shares, compared to its average volume of 7,217,395. The business has a fifty day moving average price of $266.06 and a 200-day moving average price of $273.40. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $490.42 billion, a P/E ratio of 29.96, a PEG ratio of 1.89 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the business posted $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. As a group, analysts anticipate that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America restated 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. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Mizuho lifted their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. TD Cowen lowered their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Piper Sandler lowered their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $308.50.

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.