IQ EQ FUND MANAGEMENT IRELAND Ltd Trims Stake in Visa Inc. (NYSE:V)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its stake in Visa Inc. (NYSE:V) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,271 shares of the credit-card processor’s stock after selling 467 shares during the period. Visa accounts for approximately 1.1% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings, making the stock its 13th largest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Visa were worth $9,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in Visa in the 4th quarter worth $3,895,015,000. National Bank of Canada FI boosted its holdings in Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB bought a new position in Visa in the 1st quarter worth $511,321,000. GQG Partners LLC boosted its holdings in shares of Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in shares of Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE V traded up $0.83 on Friday, reaching $275.15. 1,890,585 shares of the company’s stock traded hands, compared to its average volume of 7,108,576. The stock has a 50 day moving average price of $265.72 and a 200-day moving average price of $273.11. The firm has a market cap of $503.23 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 1.89 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Equities research analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. TD Cowen dropped their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Evercore ISI decreased their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. upped 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. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

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.