Visa Inc. (NYSE:V) Holdings Boosted by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. boosted its holdings in Visa Inc. (NYSE:V) by 4.5% during the first quarter, HoldingsChannel.com reports. The fund owned 5,187 shares of the credit-card processor’s stock after acquiring an additional 223 shares during the period. Visa accounts for about 0.6% of Industrial Alliance Investment Management Inc.’s portfolio, making the stock its 14th biggest position. Industrial Alliance Investment Management Inc.’s holdings in Visa were worth $1,448,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of V. Westend Capital Management LLC acquired a new stake in shares of Visa in the first quarter valued at approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the fourth quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $33,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $40,000. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. TD Cowen dropped their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $307.25.

Visa Trading Up 0.5 %

Visa stock traded up $1.42 during midday trading on Tuesday, reaching $263.02. The stock had a trading volume of 5,941,246 shares, compared to its average volume of 6,901,083. The firm’s fifty day simple moving average is $269.70 and its two-hundred day simple moving average is $274.36. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $481.05 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.83 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the business posted $2.16 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate 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. Investors of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is 23.24%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

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.