Visa Inc. $V Shares Sold by Swedbank AB

Swedbank AB lessened its holdings in shares of Visa Inc. (NYSE:VFree Report) by 6.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,780,535 shares of the credit-card processor’s stock after selling 202,545 shares during the quarter. Visa comprises approximately 0.9% of Swedbank AB’s portfolio, making the stock its 19th biggest position. Swedbank AB’s holdings in Visa were worth $840,389,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Invariant Investment Management acquired a new position in Visa during the 4th quarter valued at approximately $969,000. Nixon Peabody Trust Co. lifted its stake in shares of Visa by 58.1% during the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after buying an additional 1,543 shares during the period. Vanguard Group Inc. grew its holdings in shares of Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after buying an additional 1,054,343 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in shares of Visa by 4.7% during the third quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock valued at $180,088,000 after buying an additional 23,863 shares during the last quarter. Finally, Savvy Advisors Inc. raised its stake in Visa by 30.1% in the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock worth $10,143,000 after acquiring an additional 6,688 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Key Visa News

Here are the key news stories impacting Visa this week:

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 75,581 shares of company stock valued at $25,627,975 in the last three months. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on V shares. Oppenheimer reiterated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Evercore set a $350.00 price target on shares of Visa in a report on Wednesday, April 29th. Morgan Stanley reissued an “overweight” rating and set a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Citigroup dropped their price objective on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Truist Financial set a $371.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $397.39.

Read Our Latest Stock Analysis on Visa

Visa Stock Performance

Shares of NYSE V opened at $352.21 on Wednesday. The company has a market capitalization of $631.79 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.91 and a beta of 0.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average price is $328.99 and its 200 day moving average price is $324.88. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.02.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter in the prior year, the firm posted $2.76 earnings per share. The company’s revenue was up 17.1% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 13.1 earnings per share for the current year.

Visa announced that its board has approved a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is 23.34%.

Visa Company Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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