Addenda Capital Inc. Has $28.39 Million Stock Position in Visa Inc. $V

Addenda Capital Inc. raised its holdings in Visa Inc. (NYSE:V) by 0.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,956 shares of the credit-card processor’s stock after purchasing an additional 638 shares during the period. Visa makes up about 1.3% of Addenda Capital Inc.’s portfolio, making the stock its 23rd largest holding. Addenda Capital Inc.’s holdings in Visa were worth $28,388,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of V. Nuveen LLC bought a new stake in shares of Visa during the 1st quarter worth approximately $3,518,533,000. Vanguard Group Inc. lifted its stake in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP increased its position in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares during the period. MUFG Securities EMEA plc acquired a new position in Visa in the 1st quarter valued at approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on V. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Truist Financial reduced their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Barclays restated an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $385.96.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Up 0.3%

V opened at $341.34 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company’s 50-day moving average is $344.23 and its 200 day moving average is $346.51. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The firm has a market capitalization of $625.61 billion, a P/E ratio of 33.33, a PEG ratio of 2.26 and a beta of 0.92.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter last year, the company posted $2.42 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Visa 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.