VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Shares in Visa Inc. $V

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Visa Inc. (NYSE:V) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 512,918 shares of the credit-card processor’s stock, valued at approximately $175,977,000. Visa accounts for about 1.1% of VIRGINIA RETIREMENT SYSTEMS ET Al’s investment portfolio, making the stock its 11th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. XXEC Inc. lifted its position in shares of Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after acquiring an additional 186,138,883 shares during the period. Norges Bank acquired a new stake in shares of Visa during the 4th quarter worth approximately $5,877,738,000. Cardano Risk Management B.V. increased its position in shares of Visa by 867.6% during the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after purchasing an additional 7,364,762 shares during the period. Diamant Asset Management Inc. increased its position in shares of Visa by 29,706.3% during the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock valued at $2,216,310,000 after purchasing an additional 7,308,345 shares during the period. Finally, Jupiter Topco LLC bought a new stake in shares of Visa during the second quarter valued at approximately $1,435,262,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,028 shares of Visa stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,018,365.40. This trade represents a 9.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $379.65, for a total transaction of $2,230,443.75. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,760,809.10. This trade represents a 27.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 104,537 shares of company stock worth $37,540,837. Corporate insiders own 0.12% of the company’s stock.

Visa Price Performance

Visa stock opened at $374.46 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $668.20 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.76. Visa Inc. has a one year low of $293.89 and a one year high of $385.57. The business has a 50 day simple moving average of $363.63 and a 200 day simple moving average of $333.40.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, beating the consensus estimate of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The business had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the firm earned $2.98 EPS. Visa’s quarterly revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is presently 22.79%.

Wall Street Analysts Forecast Growth

V has been the subject of several research reports. Truist Financial set a $406.00 target price on Visa and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wolfe Research reissued an “outperform” rating and issued a $460.00 price target (up from $435.00) on shares of Visa in a report on Tuesday, August 25th. TD Cowen restated a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Piper Sandler restated an “overweight” rating and issued a $430.00 price objective (up from $394.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $430.00 price objective on shares of Visa in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $416.62.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.