Visa Inc. $V Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. cut its stake in shares of Visa Inc. (NYSE:V) by 11.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,518,083 shares of the credit-card processor’s stock after selling 197,561 shares during the quarter. Visa makes up approximately 0.9% of APG Asset Management N.V.’s portfolio, making the stock its 11th biggest position. APG Asset Management N.V. owned 0.08% of Visa worth $518,243,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in V. Norges Bank purchased a new stake in shares of Visa in the 2nd quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. lifted its position in shares of Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after buying an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after buying an additional 1,067,631 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective for the company in a research note on Monday, February 2nd. Evercore set a $380.00 target price on Visa in a report on Friday, December 12th. TD Cowen restated a “buy” rating on shares of Visa in a research note on Friday, January 30th. HSBC raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Finally, Cantor Fitzgerald raised Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $391.43.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.12% of the stock is owned by corporate insiders.

Visa Stock Up 0.7%

Shares of Visa stock opened at $319.07 on Friday. The company has a market cap of $579.17 billion, a P/E ratio of 29.93, a PEG ratio of 1.83 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. Visa Inc. has a one year low of $299.00 and a one year high of $375.51. The firm has a fifty day moving average of $333.00 and a two-hundred day moving average of $338.13.

Visa (NYSE:V) last issued its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the firm earned $2.75 earnings per share. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is 25.14%.

About Visa

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.