Meitav Dash Investments Ltd. Grows Position in Visa Inc. (NYSE:V)

Financial News Live · Aug 8, 2022 01:21

Meitav Dash Investments Ltd. grew its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 34.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 335,317 shares of the credit-card processor's stock after buying an additional 85,812 shares during the period. Visa accounts for 1.1% of Meitav Dash Investments Ltd.'s investment portfolio, making the stock its 21st biggest position. Meitav Dash Investments Ltd.'s holdings in Visa were worth $74,390,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of V. Banco Santander S.A. boosted its holdings in shares of Visa by 14.4% during the first quarter. Banco Santander S.A. now owns 483,314 shares of the credit-card processor's stock worth $107,185,000 after purchasing an additional 60,829 shares during the last quarter. Egerton Capital UK LLP boosted its holdings in shares of Visa by 6.7% during the first quarter. Egerton Capital UK LLP now owns 4,883,072 shares of the credit-card processor's stock worth $1,082,919,000 after purchasing an additional 306,910 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Visa during the first quarter worth $233,000. Wealthsource Partners LLC boosted its holdings in shares of Visa by 7.5% during the first quarter. Wealthsource Partners LLC now owns 12,028 shares of the credit-card processor's stock worth $2,668,000 after purchasing an additional 843 shares during the last quarter. Finally, Andesa Financial Management Inc. boosted its holdings in shares of Visa by 8.3% during the first quarter. Andesa Financial Management Inc. now owns 4,125 shares of the credit-card processor's stock worth $915,000 after purchasing an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company's stock.

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Visa Stock Up 1.1 %

Shares of NYSE V opened at $215.87 on Friday. Visa Inc. has a 1 year low of $185.91 and a 1 year high of $242.60. The firm has a market cap of $410.43 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.74 and a beta of 0.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. The stock's 50-day simple moving average is $205.31 and its 200-day simple moving average is $210.45.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, August 11th. Visa's payout ratio is 22.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Visa from $280.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday, July 13th. Mizuho reduced their target price on Visa from $235.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, July 1st. Cowen reduced their target price on Visa from $276.00 to $254.00 in a report on Wednesday, April 27th. Robert W. Baird reduced their target price on Visa from $290.00 to $265.00 in a report on Wednesday, July 20th. Finally, Credit Suisse Group lifted their target price on Visa from $260.00 to $265.00 and gave the company an "outperform" rating in a report on Wednesday, April 27th. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.64.

Insider Transactions at Visa

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business's stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $210.38, for a total value of $1,893,420.00. Following the completion of the sale, the chief executive officer now directly owns 162,887 shares of the company's stock, valued at $34,268,167.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 27,000 shares of company stock valued at $5,560,740. 0.21% of the stock is currently owned by insiders.

About Visa

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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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