Comgest Global Investors S.A.S. Sells 5,628 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Oct 9th, 2023

Comgest Global Investors S.A.S. trimmed its holdings in Visa Inc. (NYSE:V – Free Report) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 896,226 shares of the credit-card processor’s stock after selling 5,628 shares during the quarter. Visa comprises about 3.6% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 10th biggest position. Comgest Global Investors S.A.S.’s holdings in Visa were worth $212,836,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in V. BCK Partners Inc. purchased a new stake in shares of Visa in the first quarter worth approximately $2,717,000. Markel Corp raised its stake in shares of Visa by 0.3% in the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after purchasing an additional 3,065 shares during the last quarter. AMI Investment Management Inc. bought a new position in shares of Visa in the first quarter valued at approximately $2,323,000. Ergoteles LLC bought a new position in shares of Visa in the first quarter valued at approximately $538,000. Finally, XTX Topco Ltd bought a new position in shares of Visa in the first quarter valued at approximately $1,496,000. 81.35% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.7 %

Shares of V stock opened at $235.04 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $250.06. The company has a market capitalization of $437.61 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 1.56 and a beta of 0.96. The business’s fifty day moving average is $239.99 and its 200 day moving average is $233.92.

Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The business had revenue of $8.12 billion for the quarter, compared to the consensus estimate of $8.06 billion. During the same quarter last year, the business posted $1.98 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc. will post 8.65 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is 22.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on V shares. Bank of America upped their target price on Visa from $270.00 to $275.00 in a report on Tuesday, July 18th. Wells Fargo & Company increased their price objective on Visa from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, July 26th. Jefferies Financial Group increased their price objective on Visa from $270.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, July 19th. Susquehanna increased their price objective on Visa from $266.00 to $300.00 in a report on Wednesday, July 26th. Finally, Royal Bank of Canada increased their price objective on Visa from $265.00 to $290.00 in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $273.77.

View Our Latest Report on V

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 425 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total transaction of $102,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Rajat Taneja sold 15,800 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 425 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total value of $102,000.00. The disclosure for this sale can be found here. Insiders have sold 55,225 shares of company stock worth $13,477,806 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Visa Profile

(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.