Sompo Asset Management Co. Ltd. Decreases Position in Visa Inc. (NYSE:V)

Sompo Asset Management Co. Ltd. cut its holdings in Visa Inc. (NYSE:V) by 4.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,831 shares of the credit-card processor’s stock after selling 2,430 shares during the quarter. Visa makes up 2.1% of Sompo Asset Management Co. Ltd.’s holdings, making the stock its 10th biggest holding. Sompo Asset Management Co. Ltd.’s holdings in Visa were worth $12,554,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Trail Advisors LLC grew its position in Visa by 0.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 19,035 shares of the credit-card processor’s stock worth $4,996,000 after acquiring an additional 118 shares during the last quarter. Capstone Triton Financial Group LLC increased its stake in shares of Visa by 15.5% in the second quarter. Capstone Triton Financial Group LLC now owns 3,734 shares of the credit-card processor’s stock valued at $980,000 after buying an additional 500 shares during the period. Thames Capital Management LLC boosted its position in Visa by 3.2% during the 2nd quarter. Thames Capital Management LLC now owns 49,469 shares of the credit-card processor’s stock worth $12,984,000 after buying an additional 1,548 shares during the period. Blue Whale Capital LLP grew its holdings in Visa by 4.6% during the 2nd quarter. Blue Whale Capital LLP now owns 203,400 shares of the credit-card processor’s stock worth $53,386,000 after acquiring an additional 8,900 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Visa by 3.5% during the second quarter. Sei Investments Co. now owns 1,665,218 shares of the credit-card processor’s stock valued at $437,060,000 after acquiring an additional 57,034 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on V. Piper Sandler cut their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group cut their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Visa Stock Performance

NYSE:V opened at $284.67 on Friday. The company has a market capitalization of $518.76 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.05 and a beta of 0.96. The business has a fifty day simple moving average of $270.65 and a two-hundred day simple moving average of $273.49. 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 Inc. has a 1 year low of $227.78 and a 1 year high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The business 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 EPS. On average, analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

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.