ABN AMRO Bank N.V. Sells 190,631 Shares of Visa Inc. $V

Key Points

• ABN AMRO Bank N.V. cut its Visa stake by 18.6% in the first quarter, selling 190,631 shares and leaving it with 836,356 shares worth about $255.1 million. Visa remained the bank’s sixth-largest holding.
• Visa reported a strong latest quarter, with EPS of $3.31 topping estimates and revenue of $11.23 billion exceeding forecasts. Revenue rose 17.1% year over year, and analysts expect full-year EPS of 13.09.
• The company boosted shareholder returns and capital plans by paying a quarterly dividend of $0.67 per share and authorizing a $20 billion stock buyback. Wall Street remains broadly bullish, with a consensus Buy rating and a target price of $387.78.

ABN AMRO Bank N.V. trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 18.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 836,356 shares of the credit-card processor's stock after selling 190,631 shares during the quarter. Visa comprises 2.8% of ABN AMRO Bank N.V.'s holdings, making the stock its 6th biggest position. ABN AMRO Bank N.V.'s holdings in Visa were worth $255,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Clayton Financial Group LLC raised its stake in shares of Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock worth $25,000 after buying an additional 58 shares in the last quarter. PayPay Securities Corp grew its stake in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Cresta Advisors Ltd. acquired a new position in shares of Visa in the 4th quarter worth approximately $26,000. Parvin Asset Management LLC raised its holdings in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in Visa during the fourth quarter valued at approximately $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of Visa stock opened at $336.96 on Monday. The stock has a market cap of $604.43 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 1.80 and a beta of 0.77. The business has a fifty day simple moving average of $323.36 and a 200-day simple moving average of $324.29. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.Visa's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.76 earnings per share. On average, sell-side analysts anticipate that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Dividend Announcement

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

Visa announced that its board has approved a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Evercore set a $350.00 target price on shares of Visa in a report on Wednesday, April 29th. Raymond James Financial reaffirmed an "outperform" rating and issued a $389.00 price target on shares of Visa in a report on Wednesday, April 29th. UBS Group increased their price objective on Visa from $390.00 to $410.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $400.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Finally, Truist Financial set a $371.00 target price on Visa and gave the stock a "buy" rating in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $387.78.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the business'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 transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by corporate insiders.

Key Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa's New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

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.

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