Alecta Tjanstepension Omsesidigt Sells 1,629,100 Shares of Visa Inc. (NYSE:V)

Alecta Tjanstepension Omsesidigt lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 48.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,701,600 shares of the credit-card processor's stock after selling 1,629,100 shares during the period. Visa comprises 3.3% of Alecta Tjanstepension Omsesidigt's portfolio, making the stock its 7th largest holding. Alecta Tjanstepension Omsesidigt owned 0.09% of Visa worth $596,156,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors raised its position in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the last quarter. Capital World Investors raised its position in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Northern Trust Corp raised its position in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. Finally, Norges Bank acquired a new position in Visa during the fourth quarter worth about $5,171,271,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on V shares. William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Oppenheimer boosted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Macquarie cut their price objective on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus price target of $375.52.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,108 shares of company stock worth $36,771,200 in the last ninety days. 0.13% of the stock is owned by insiders.

Visa Stock Up 1.0%

Shares of V stock traded up $3.36 on Wednesday, hitting $355.22. The stock had a trading volume of 4,384,183 shares, compared to its average volume of 6,771,517. The firm has a market capitalization of $655.43 billion, a price-to-earnings ratio of 35.70, a P/E/G ratio of 2.37 and a beta of 0.92. The stock's 50 day moving average is $356.82 and its 200-day moving average is $344.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the firm posted $2.51 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa's dividend payout ratio (DPR) is 23.72%.

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.