Sumitomo Mitsui Trust Holdings Inc. Grows Holdings in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 16th, 2023

Sumitomo Mitsui Trust Holdings Inc. increased its position in Visa Inc. (NYSE:V – Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,169,827 shares of the credit-card processor’s stock after acquiring an additional 90,939 shares during the quarter. Visa comprises approximately 0.9% of Sumitomo Mitsui Trust Holdings Inc.’s holdings, making the stock its 13th biggest position. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of Visa worth $1,165,589,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. BCK Partners Inc. purchased a new stake in Visa during the 1st quarter valued at approximately $2,717,000. Markel Corp grew its holdings in Visa by 0.3% during the 1st quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after buying an additional 3,065 shares in the last quarter. AMI Investment Management Inc. purchased a new stake in Visa during the 1st quarter valued at approximately $2,323,000. Ergoteles LLC purchased a new stake in Visa during the 1st quarter valued at approximately $538,000. Finally, XTX Topco Ltd purchased a new stake in Visa during the 1st quarter valued at approximately $1,496,000. 84.92% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of Visa stock opened at $243.16 on Friday. The firm has a market cap of $455.52 billion, a P/E ratio of 32.51, a P/E/G ratio of 1.86 and a beta of 0.97. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $244.74. The stock’s fifty day moving average price is $230.38 and its 200-day moving average price is $226.18.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. Visa had a return on equity of 50.21% and a net margin of 50.95%. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. During the same quarter last year, the firm posted $1.79 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post 8.59 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 annualized dividend and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 24.06%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on V. Robert W. Baird increased their target price on Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. StockNews.com began coverage on Visa in a research report on Thursday, May 18th. They set a “buy” rating for the company. Oppenheimer increased their target price on Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. Royal Bank of Canada increased their target price on Visa from $262.00 to $265.00 in a research report on Wednesday, April 26th. Finally, KeyCorp increased their target price on Visa from $250.00 to $260.00 in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $262.52.

Insider Buying and Selling at Visa

In other Visa news, insider Rajat Taneja sold 22,700 shares of Visa stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total value of $5,452,767.00. Following the transaction, the insider now owns 232,112 shares in the company, valued at $55,755,623.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rajat Taneja sold 22,700 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $240.21, for a total value of $5,452,767.00. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $55,755,623.52. The disclosure for this sale can be found here. Insiders have sold 165,727 shares of company stock worth $38,891,141 over the last quarter. Insiders own 0.22% of the company’s stock.

About Visa

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.