Nomura Asset Management Co. Ltd. Buys 16,346 Shares of Visa Inc. (NYSE:V)

Nomura Asset Management Co. Ltd. increased its stake in Visa Inc. (NYSE:V) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 751,674 shares of the credit-card processor’s stock after purchasing an additional 16,346 shares during the quarter. Visa makes up approximately 0.6% of Nomura Asset Management Co. Ltd.’s portfolio, making the stock its 23rd biggest holding. Nomura Asset Management Co. Ltd.’s holdings in Visa were worth $206,673,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Peterson Financial Group Inc. bought a new position in shares of Visa in the third quarter worth approximately $26,000. POM Investment Strategies LLC lifted its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Visa in the 3rd quarter worth about $31,000. TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new position in shares of Visa during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.6 %

NYSE:V opened at $311.01 on Monday. The firm has a 50-day simple moving average of $295.71 and a two-hundred day simple moving average of $279.74. The firm has a market cap of $579.37 billion, a P/E ratio of 31.96, a P/E/G ratio of 2.09 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $317.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings data 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 business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the firm posted $2.33 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Robert W. Baird boosted their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Compass Point initiated coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price on the stock. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $321.74.

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.