Artemis Investment Management LLP Increases Position in Visa Inc. (NYSE:V)

Artemis Investment Management LLP raised its position in shares of Visa Inc. (NYSE:V) by 13.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,206 shares of the credit-card processor’s stock after purchasing an additional 23,652 shares during the period. Artemis Investment Management LLP’s holdings in Visa were worth $56,960,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in Visa in the fourth quarter worth $25,000. Westend Capital Management LLC purchased a new position in shares of Visa in the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa in the 4th quarter valued at about $32,000. Frank Rimerman Advisors LLC purchased a new stake in Visa during the 4th quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC purchased a new stake in Visa during the 4th quarter valued at about $37,000. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

V has been the subject of several recent research reports. Royal Bank of Canada boosted their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Piper Sandler initiated coverage on shares of Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target for the company. Wedbush raised their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price objective on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird increased their target price on shares of Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Stock Down 1.6 %

V stock opened at $262.30 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $273.88 and a 200 day moving average of $273.41. The firm has a market cap of $479.73 billion, a PE ratio of 29.31, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.09 EPS. On average, research analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. Visa’s dividend payout ratio is presently 23.24%.

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.