Rempart Asset Management Inc. Boosts Stock Holdings in Visa Inc. (NYSE:V)

Rempart Asset Management Inc. raised its holdings in Visa Inc. (NYSE:V – Get Rating) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,002 shares of the credit-card processor’s stock after purchasing an additional 2,065 shares during the period. Visa accounts for about 3.7% of Rempart Asset Management Inc.’s holdings, making the stock its 13th biggest position. Rempart Asset Management Inc.’s holdings in Visa were worth $17,964,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Wealth Management LLC boosted its position in shares of Visa by 0.4% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 10,563 shares of the credit-card processor’s stock valued at $2,289,000 after acquiring an additional 45 shares during the period. Corbett Road Capital Management LLC lifted its position in Visa by 3.1% during the fourth quarter. Corbett Road Capital Management LLC now owns 1,486 shares of the credit-card processor’s stock valued at $322,000 after purchasing an additional 45 shares during the last quarter. IVC Wealth Advisors LLC lifted its position in Visa by 0.8% during the fourth quarter. IVC Wealth Advisors LLC now owns 5,757 shares of the credit-card processor’s stock valued at $1,248,000 after purchasing an additional 46 shares during the last quarter. Financial Consulate Inc. lifted its position in Visa by 1.0% during the fourth quarter. Financial Consulate Inc. now owns 4,851 shares of the credit-card processor’s stock valued at $1,051,000 after purchasing an additional 46 shares during the last quarter. Finally, Tranquilli Financial Advisor LLC lifted its position in Visa by 3.1% during the fourth quarter. Tranquilli Financial Advisor LLC now owns 1,537 shares of the credit-card processor’s stock valued at $333,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.

Shares of Visa stock opened at $193.82 on Thursday. Visa Inc. has a 12-month low of $185.91 and a 12-month high of $252.67. The company has a market cap of $368.51 billion, a P/E ratio of 30.47, a PEG ratio of 1.62 and a beta of 0.90. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $205.14 and its two-hundred day simple moving average is $212.24.

Visa (NYSE:V – Get Rating) last announced its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The firm had revenue of $7.19 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The company’s quarterly revenue was up 25.5% on a year-over-year basis. Analysts predict that Visa Inc. will post 7.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.58%.

Several equities research analysts have issued reports on the stock. Piper Sandler lowered shares of Visa from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $283.00 to $239.00 in a research report on Friday, April 29th. Cowen dropped their target price on shares of Visa from $276.00 to $254.00 in a research report on Wednesday, April 27th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. Evercore ISI lifted their price target on shares of Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Finally, Credit Suisse Group lifted their price target on shares of Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $267.44.

In related news, President Ryan Mcinerney sold 6,466 shares of the company’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $220.00, for a total value of $1,422,520.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $210.38, for a total transaction of $1,893,420.00. Following the completion of the transaction, the chief executive officer now owns 162,887 shares in the company, valued at approximately $34,268,167.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,933 shares of company stock worth $8,745,055. Company insiders own 0.21% of the company’s stock.

Visa Profile (Get Rating)

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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