ASR Vermogensbeheer N.V. Invests $111.64 Million in Visa Inc. (NYSE:V)
ASR Vermogensbeheer N.V. has invested $111.64 million in Visa Inc. (NYSE:V), acquiring 318,559 shares, which now represent 1.7% of its investment portfolio. Other institutional investors have also increased their stakes in Visa, with GAMMA Investing LLC raising its position significantly. Analysts have a positive outlook on Visa, with multiple firms raising their price targets. Insider trading activity has been noted, with significant sales by executives. Visa's stock performance shows a 52-week range between $255.77 and $375.51, with a current market cap of $622.21 billion.
ASR Vermogensbeheer N.V. purchased a new position in Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 318,559 shares of the credit-card processor's stock, valued at approximately $111,638,000. Visa accounts for about 1.7% of ASR Vermogensbeheer N.V.'s investment portfolio, making the stock its 10th biggest position.
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Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Northern Trust Corp grew its stake in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Visa during the fourth quarter valued at about $673,689,000. Sanders Capital LLC bought a new position in shares of Visa during the fourth quarter valued at about $623,022,000. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Visa by 295.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock valued at $746,550,000 after buying an additional 1,764,781 shares during the last quarter. Institutional investors own 82.15% of the company's stock.
Wall Street Analysts Forecast Growth
V has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Morgan Stanley raised their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $380.84.
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Check Out Our Latest Report on V
Insider Activity at Visa
In related news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,913 shares of company stock valued at $32,902,432 in the last three months. 0.13% of the stock is owned by insiders.
Visa Price Performance
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Shares of NYSE V opened at $337.21 on Wednesday. Visa Inc. has a fifty-two week low of $255.77 and a fifty-two week high of $375.51. The company has a 50 day simple moving average of $354.38 and a two-hundred day simple moving average of $346.84. The company has a market capitalization of $622.21 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 2.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.42 earnings per share. Analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.
Visa Company Profile
(Free Report)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.
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