iA Global Asset Management Inc. Has $108.20 Million Stake in Visa Inc. $V

iA Global Asset Management Inc. trimmed its position in shares of Visa Inc. (NYSE:V) by 26.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 304,742 shares of the credit-card processor’s stock after selling 111,142 shares during the period. Visa accounts for approximately 1.6% of iA Global Asset Management Inc.’s investment portfolio, making the stock its 11th biggest position. iA Global Asset Management Inc.’s holdings in Visa were worth $108,199,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after buying an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC increased its holdings in Visa by 7.5% during the second quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock worth $564,000 after buying an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC acquired a new position in Visa during the second quarter worth $862,000. Iron Gate Global Advisors LLC increased its holdings in Visa by 5.9% during the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock worth $22,040,000 after buying an additional 3,484 shares during the last quarter. Finally, NatWest Group plc increased its holdings in shares of Visa by 43.8% in the second quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after purchasing an additional 13,912 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’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 approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 1.2%

V stock opened at $336.74 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. The company’s 50-day simple moving average is $344.54 and its 200 day simple moving average is $348.57. Visa Inc. has a 52 week low of $290.76 and a 52 week high of $375.51. The company has a market capitalization of $617.17 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last released its quarterly earnings results 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. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the company posted $2.71 earnings per share. Visa’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is currently 23.11%.

Analysts Set New Price Targets

Several research firms have commented on V. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price objective (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday, October 29th. Finally, Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $400.00.

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.