Freemont Management S.A. Has $852,000 Position in Visa Inc. $V

Freemont Management S.A. boosted its position in Visa Inc. (NYSE:V) by 33.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,400 shares of the credit-card processor’s stock after purchasing an additional 600 shares during the quarter. Freemont Management S.A.’s holdings in Visa were worth $852,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new position in shares of Visa in the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the 2nd quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the 2nd quarter valued at about $29,000. Cranbrook Wealth Management LLC grew its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Hoese & Co LLP bought a new position in shares of Visa during the second quarter worth approximately $36,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $335.91 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a market cap of $615.66 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87. The business has a fifty day simple moving average of $343.52 and a 200 day simple moving average of $348.74.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on V. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Barclays reiterated 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Finally, Truist Financial cut their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Four 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 stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Insider Activity at Visa

In other news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were 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 of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,897 shares of company stock valued at $8,164,561 in the last quarter. 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.