Mitsubishi UFJ Trust & Banking Corp Sells 18,283 Shares of Visa Inc. $V

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Visa Inc. (NYSE:V) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,145,508 shares of the credit-card processor’s stock after selling 18,283 shares during the quarter. Visa makes up approximately 0.9% of Mitsubishi UFJ Trust & Banking Corp’s portfolio, making the stock its 11th largest holding. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Visa worth $406,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of V. Nuveen LLC purchased a new stake in shares of Visa during the first quarter worth $3,518,533,000. Vanguard Group Inc. raised its stake in shares of Visa by 1.1% during 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 during the period. Wellington Management Group LLP raised its stake 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 period. MUFG Securities EMEA plc purchased a new stake in Visa during the 1st quarter worth about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Visa by 7.2% in the 1st 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 worth $5,003,569,000 after purchasing an additional 955,392 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the topic of several analyst reports. Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. KeyCorp reaffirmed an “overweight” rating and set a $405.00 target price on shares of Visa in a report on Wednesday, October 22nd. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, Truist Financial dropped their price objective on 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Trading Up 1.1%

NYSE V opened at $338.67 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock’s 50-day simple moving average is $342.94 and its two-hundred day simple moving average is $348.85. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a market capitalization of $620.72 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.03 and a beta of 0.87.

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

Visa Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is 23.11%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,897 shares of company stock valued at $8,164,561 over the last three months. Insiders own 0.13% of the company’s stock.

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.