Sumitomo Mitsui DS Asset Management Company Ltd Acquires 19,134 Shares of Visa Inc. (NYSE:V)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Visa Inc. (NYSE:VGet Rating) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 288,277 shares of the credit-card processor’s stock after purchasing an additional 19,134 shares during the period. Visa comprises about 1.4% of Sumitomo Mitsui DS Asset Management Company Ltd’s investment portfolio, making the stock its 12th biggest position. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Visa were worth $56,759,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in V. BlackRock Inc. lifted its position in Visa by 1.9% in the fourth quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock valued at $27,962,374,000 after purchasing an additional 2,440,030 shares during the last quarter. State Street Corp raised its holdings in Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock valued at $16,154,022,000 after buying an additional 1,504,897 shares during the last quarter. Alliancebernstein L.P. boosted its position in Visa by 11.5% during the 4th quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock valued at $5,602,043,000 after buying an additional 2,659,845 shares during the period. Wellington Management Group LLP grew its holdings in Visa by 33.1% in the 1st quarter. Wellington Management Group LLP now owns 22,222,170 shares of the credit-card processor’s stock worth $4,928,211,000 after acquiring an additional 5,527,427 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Visa by 3.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,615,166 shares of the credit-card processor’s stock valued at $3,167,253,000 after acquiring an additional 518,570 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on V. Wolfe Research cut their target price on Visa from $285.00 to $260.00 in a research note on Wednesday, July 20th. Susquehanna Bancshares cut their price objective on Visa from $290.00 to $260.00 in a research report on Thursday, July 28th. Royal Bank of Canada decreased their target price on Visa from $278.00 to $262.00 in a report on Wednesday, July 27th. Macquarie cut their price target on shares of Visa from $270.00 to $260.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, Truist Financial decreased their price objective on shares of Visa from $275.00 to $250.00 in a report on Thursday, June 30th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $257.64.

Insider Activity at Visa

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the sale, the chief executive officer now owns 156,887 shares of the company’s stock, valued at approximately $33,277,301.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is currently owned by insiders.

Visa Price Performance

Shares of V opened at $187.02 on Thursday. Visa Inc. has a twelve month low of $185.91 and a twelve month high of $236.96. The company has a market capitalization of $353.55 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90. The firm has a 50 day moving average of $206.70 and a 200 day moving average of $207.03. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.63.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Thursday, August 11th. Visa’s dividend payout ratio is currently 22.12%.

Visa Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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