Dai ichi Life Insurance Company Ltd Sells 14,234 Shares of Visa Inc. (NYSE:V)

Dai ichi Life Insurance Company Ltd trimmed its holdings in Visa Inc. (NYSE:V) by 12.0% during the third quarter, Holdings Channel reports. The institutional investor owned 104,068 shares of the credit-card processor’s stock after selling 14,234 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Visa were worth $28,613,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Qsemble Capital Management LP increased its holdings in Visa by 31.1% during the third quarter. Qsemble Capital Management LP now owns 20,379 shares of the credit-card processor’s stock worth $5,603,000 after buying an additional 4,829 shares during the last quarter. Acorn Wealth Advisors LLC purchased a new stake in Visa during the third quarter worth about $749,000. Associated Banc Corp increased its holdings in Visa by 2.9% during the third quarter. Associated Banc Corp now owns 13,573 shares of the credit-card processor’s stock worth $3,732,000 after buying an additional 381 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in Visa by 4.6% during the third quarter. Horizon Kinetics Asset Management LLC now owns 4,539 shares of the credit-card processor’s stock worth $1,248,000 after buying an additional 200 shares during the last quarter. Finally, Diversified LLC increased its holdings in Visa by 3.6% during the third quarter. Diversified LLC now owns 5,314 shares of the credit-card processor’s stock worth $1,461,000 after buying an additional 184 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Royal Bank of Canada raised their price objective on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets lifted their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $312.80 on Tuesday. The firm has a market cap of $582.71 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.08 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $251.61 and a 12 month high of $313.66. The stock’s fifty day moving average price is $289.96 and its 200-day moving average price is $277.58.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

About Visa

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.