Asahi Life Asset Management CO. LTD. Purchases 814 Shares of Visa Inc. $V

Asahi Life Asset Management CO. LTD. lifted its position in shares of Visa Inc. (NYSE:V) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,997 shares of the credit-card processor’s stock after acquiring an additional 814 shares during the period. Visa makes up about 2.5% of Asahi Life Asset Management CO. LTD.’s portfolio, making the stock its 8th largest holding. Asahi Life Asset Management CO. LTD.’s holdings in Visa were worth $4,260,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Visa during the 1st quarter worth $3,518,533,000. Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc bought a new position in Visa in the 1st quarter valued at approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

NYSE V opened at $336.63 on Friday. The company has a market cap of $616.97 billion, a P/E ratio of 32.97, a PEG ratio of 2.06 and a beta of 0.87. The company has a fifty day simple moving average of $343.84 and a 200 day simple moving average of $348.51. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

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 net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on V. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target for the company. Macquarie cut their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Citigroup upgraded shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Truist Financial lowered 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. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,897 shares of company stock valued at $8,164,561 in the last 90 days. 0.13% of the stock is currently owned by corporate 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.