Visa Inc. $V Stock Holdings Increased by Diamant Asset Management Inc.

Diamant Asset Management Inc. grew its position in shares of Visa Inc. (NYSE:V) by 29,706.3% in the first quarter, Holdings Channel reports. The fund owned 7,332,947 shares of the credit-card processor’s stock after buying an additional 7,308,345 shares during the quarter. Visa makes up about 7.3% of Diamant Asset Management Inc.’s portfolio, making the stock its 5th biggest position. Diamant Asset Management Inc.’s holdings in Visa were worth $2,216,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invariant Investment Management purchased a new stake in Visa during the fourth quarter valued at approximately $969,000. Vanguard Group Inc. lifted its stake in shares of Visa by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after purchasing an additional 1,054,343 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of Visa by 4.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock worth $180,088,000 after purchasing an additional 23,863 shares during the period. Savvy Advisors Inc. boosted its holdings in shares of Visa by 30.1% in the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock worth $10,143,000 after purchasing an additional 6,688 shares during the period. Finally, Ticino Wealth purchased a new stake in Visa during the 4th quarter valued at $1,837,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In related news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is owned by corporate insiders.

Visa Stock Up 1.7%

V stock opened at $341.86 on Tuesday. The firm has a 50 day moving average of $323.89 and a 200 day moving average of $324.40. The stock has a market capitalization of $613.22 billion, a PE ratio of 29.78, a price-to-earnings-growth ratio of 1.80 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $359.66.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.76 EPS. Sell-side analysts forecast that Visa Inc. will post 13.09 earnings per share for the current year.

Visa announced that its Board of Directors has approved a share buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is 23.34%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group raised their price target on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and set a $389.00 target price on shares of Visa in a research report on Wednesday, April 29th. Morgan Stanley restated an “overweight” rating and issued a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Piper Sandler started coverage on Visa in a report on Monday. They issued an “overweight” rating and a $394.00 price objective for the company. Finally, Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Six research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $397.96.

About Visa

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.