Resona Asset Management Co. Ltd. Purchases 38,186 Shares of Visa Inc. $V

Resona Asset Management Co. Ltd. increased its position in shares of Visa Inc. (NYSE:V) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 764,242 shares of the credit-card processor’s stock after buying an additional 38,186 shares during the period. Visa accounts for approximately 1.3% of Resona Asset Management Co. Ltd.’s holdings, making the stock its 11th biggest position. Resona Asset Management Co. Ltd.’s holdings in Visa were worth $270,431,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of V. Yeomans Consulting Group Inc. boosted its stake in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC lifted its holdings in shares of Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after buying an additional 29 shares during the last quarter. BankPlus Wealth Management LLC boosted its position in shares of Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after acquiring an additional 29 shares during the period. Transcendent Capital Group LLC boosted its position in shares of Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares during the period. Finally, BXM Wealth LLC grew its stake in shares of Visa by 3.7% in the first quarter. BXM Wealth LLC now owns 834 shares of the credit-card processor’s stock worth $291,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on V shares. Robert W. Baird set a $425.00 target price on shares of Visa in a research note on Wednesday, October 29th. KeyCorp restated an “overweight” rating and set a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Macquarie decreased their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Finally, Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This represents a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is owned by insiders.

Visa Trading Down 1.0%

V stock opened at $336.63 on Friday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $343.84 and its 200-day moving average is $348.51. The firm has a market cap of $616.97 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.06 and a beta of 0.87.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the company earned $2.71 EPS. Visa’s revenue was up 11.5% on a year-over-year basis. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 23.11%.

About Visa

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.