DekaBank Deutsche Girozentrale Boosts Stock Position in Visa Inc. $V

DekaBank Deutsche Girozentrale boosted its holdings in shares of Visa Inc. (NYSE:V) by 0.7% in the second quarter, Holdings Channel.com reports. The fund owned 1,908,755 shares of the credit-card processor’s stock after acquiring an additional 13,715 shares during the quarter. Visa comprises 1.2% of DekaBank Deutsche Girozentrale’s portfolio, making the stock its 11th biggest holding. DekaBank Deutsche Girozentrale’s holdings in Visa were worth $667,725,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC bought a new stake in Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in Visa during the 2nd quarter valued at $29,000. Finally, Cranbrook Wealth Management LLC raised its position in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Down 0.6%

Shares of NYSE:V opened at $345.10 on Thursday. The business’s 50-day moving average is $344.72 and its 200 day moving average is $347.09. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51. The firm has a market capitalization of $632.50 billion, a P/E ratio of 33.70, a P/E/G ratio of 2.05 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on V. Barclays reaffirmed an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Macquarie boosted their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. UBS Group reissued a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $392.75.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa 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.