Visa Inc. (NYSE:V) Shares Acquired by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. raised its position in shares of Visa Inc. (NYSE:V) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,187 shares of the credit-card processor’s stock after acquiring an additional 223 shares during the quarter. Visa makes up about 0.6% of Industrial Alliance Investment Management Inc.’s holdings, making the stock its 14th largest holding. Industrial Alliance Investment Management Inc.’s holdings in Visa were worth $1,448,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in V. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter valued at approximately $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at approximately $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Visa in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wedbush upped their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. UBS Group increased their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Citigroup lowered their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Mizuho increased their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Visa from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $307.25.

Visa Stock Performance

Shares of V traded up $1.42 during midday trading on Tuesday, reaching $263.02. 5,941,246 shares of the stock were exchanged, compared to its average volume of 6,901,083. The company has a market capitalization of $481.05 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.83 and a beta of 0.95. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The business’s 50-day moving average price is $269.70 and its 200 day moving average price is $274.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. On average, sell-side analysts expect that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders 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 0.79%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s payout ratio is 23.24%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Visa Company 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.