Mitsubishi UFJ Asset Management Co. Ltd. Purchases 331,040 Shares of Visa Inc. $V

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Visa Inc. (NYSE:V) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,016,579 shares of the credit-card processor’s stock after purchasing an additional 331,040 shares during the period. Visa comprises 2.0% of Mitsubishi UFJ Asset Management Co. Ltd.’s investment portfolio, making the stock its 8th largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.38% of Visa worth $2,491,242,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Yeomans Consulting Group Inc. increased its position in Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares during the period. Semus Wealth Partners LLC grew its stake in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after purchasing an additional 29 shares during the last quarter. BankPlus Wealth Management LLC grew its stake in shares of Visa by 0.9% in the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock worth $1,185,000 after purchasing an additional 29 shares during the last quarter. Transcendent Capital Group LLC increased its holdings in Visa by 2.9% in the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the period. Finally, Valued Retirements Inc. raised its position in Visa by 4.3% during the 1st quarter. Valued Retirements Inc. now owns 728 shares of the credit-card processor’s stock worth $255,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 23,897 shares of company stock valued at $8,164,561 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Visa Stock Performance

Shares of V stock opened at $335.91 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $343.52 and a two-hundred day simple moving average of $348.84. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. The firm has a market capitalization of $615.66 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. Analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on V shares. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Macquarie cut their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Raymond James Financial reissued an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. KeyCorp restated an “overweight” rating and set a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Finally, Robert W. Baird set a $425.00 price objective on shares of Visa in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

About Visa

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.