675,837 Shares in Visa Inc. (NYSE:V) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in Visa Inc. (NYSE:V) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 675,837 shares of the credit-card processor’s stock, valued at approximately $213,888,000. Visa comprises approximately 1.3% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Decker Retirement Planning Inc. bought a new stake in Visa in the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Modus Advisors LLC bought a new position in Visa in the 4th quarter worth approximately $32,000. Finally, Compass Planning Associates Inc bought a new stake in Visa during the 4th quarter valued at $32,000. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $194,931. This represents a 94.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,842,490 in the last three months. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Visa stock opened at $313.46 on Friday. The firm has a fifty day simple moving average of $345.02 and a two-hundred day simple moving average of $316.89. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company has a market capitalization of $582.34 billion, a PE ratio of 31.60, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on V. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Raymond James restated an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $355.84.

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.