MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Position in Visa Inc. $V

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Visa Inc. (NYSE:V) by 11.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,682 shares of the credit-card processor’s stock after purchasing an additional 26,758 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Visa were worth $89,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC increased its holdings in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after buying an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock valued at $159,523,000 after purchasing an additional 57,800 shares during the period. Rafferty Asset Management LLC grew its holdings in Visa by 7.7% in the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after purchasing an additional 43,546 shares during the period. FJ Capital Management LLC acquired a new stake in Visa in the fourth quarter valued at approximately $283,000. Finally, Yeomans Consulting Group Inc. grew its holdings in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on V. Raymond James Financial reissued an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Jefferies Financial Group lifted their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Morgan Stanley lifted their target price on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $385.96.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,293 shares of company stock worth $8,114,295 in the last ninety days. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Shares of Visa stock opened at $343.02 on Friday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The company has a market cap of $628.67 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 2.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The business’s 50 day moving average price is $348.51 and its 200 day moving average price is $347.27.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the business posted $2.42 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s payout ratio is presently 23.05%.

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.