Vancity Investment Management Ltd Buys Shares of 127,862 Visa Inc. $V

Key Points

• Vancity Investment Management Ltd has acquired 127,862 shares of Visa Inc., valued at approximately $44.8 million, making it the firm's second-largest position.
• Visa's stock is currently down 2.3%, with a market capitalization of $628.67 billion and a price-to-earnings ratio of 33.50.
• The company recently announced a quarterly dividend of $0.59, with a payout ratio of 23.05%, and it reported earnings per share of $2.98 for the last quarter, exceeding analysts' estimates.

Vancity Investment Management Ltd acquired a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 127,862 shares of the credit-card processor's stock, valued at approximately $44,811,000. Visa comprises about 6.1% of Vancity Investment Management Ltd's portfolio, making the stock its 2nd biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Visa by 1.1% during 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 acquiring an additional 1,677,088 shares during the last quarter. Northern Trust Corp boosted its stake in Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the last quarter. GAMMA Investing LLC boosted its stake in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock valued at $4,210,207,000 after acquiring an additional 1,723,785 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective on the stock. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, UBS Group reissued a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Visa Stock Performance

Shares of V stock traded up $1.81 during trading hours on Tuesday, reaching $344.11. The stock had a trading volume of 4,643,732 shares, compared to its average volume of 4,978,725. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The firm has a 50-day simple moving average of $348.03 and a 200-day simple moving average of $347.13. The firm has a market capitalization of $630.68 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current 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 issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,293 shares of company stock valued at $8,114,295 in the last quarter. Company insiders own 0.13% of the company's stock.

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.