Andra AP fonden Grows Position in Visa Inc. $V

Andra AP fonden raised its stake in shares of Visa Inc. (NYSE:V) by 9.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,974 shares of the credit-card processor’s stock after acquiring an additional 18,859 shares during the period. Visa comprises approximately 0.9% of Andra AP fonden’s investment portfolio, making the stock its 15th largest holding. Andra AP fonden’s holdings in Visa were worth $68,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of V. Brighton Jones LLC increased its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. boosted its stake in Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after acquiring an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY grew its position in shares of Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after acquiring an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. grew its position in shares of Visa by 13.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after acquiring an additional 2,230 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Oppenheimer restated 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. BMO Capital Markets reissued an “outperform” rating and set a $387.00 price objective (up from $375.00) on shares of Visa in a report on Wednesday, July 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Morgan Stanley restated an “overweight” rating and issued a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Finally, Barclays began coverage on Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 price target on the stock. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $398.36.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This trade represents a 67.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 in the last quarter. 0.12% of the stock is owned by company insiders.

Visa Stock Up 0.7%

Visa stock opened at $361.25 on Tuesday. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $365.14. The firm has a market capitalization of $648.00 billion, a price-to-earnings ratio of 31.47, a P/E/G ratio of 1.91 and a beta of 0.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $335.15 and a 200 day simple moving average of $325.05.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.76 earnings per share. On average, analysts predict that Visa Inc. will post 13.11 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 23.34%.

Visa declared that its board has approved a share repurchase plan 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 plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Visa Company Profile

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.