Amundi Has $2.96 Billion Stock Holdings in Visa Inc. $V

Key Points

• Amundi increased its holdings in Visa Inc. by 5.2%, owning approximately 8,714,323 shares worth around $2.96 billion, now representing 1.1% of its total portfolio.
• Visa's latest quarterly earnings reported $2.98 EPS and a revenue of $10.17 billion, exceeding analyst estimates and marking a 14.3% year-over-year growth.
• Wall Street analysts have a consensus price target of $383.17 for Visa, with numerous ratings that include one Strong Buy and twenty-one Buy ratings.

Amundi raised its position in shares of Visa Inc. (NYSE:V - Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,714,323 shares of the credit-card processor's stock after purchasing an additional 432,788 shares during the period. Visa accounts for approximately 1.1% of Amundi's holdings, making the stock its 11th biggest position. Amundi owned approximately 0.47% of Visa worth $2,959,846,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FWL Investment Management LLC grew its position in Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares in the last quarter. Yeomans Consulting Group Inc. lifted its stake in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after acquiring an additional 29 shares during the period. Semus Wealth Partners LLC lifted its stake in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after acquiring an additional 29 shares during the period. Headinvest LLC lifted its stake in shares of Visa by 0.8% in the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after acquiring an additional 30 shares during the period. Finally, Kennebec Savings Bank lifted its stake in shares of Visa by 0.9% in the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on V shares. The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Visa Trading Down 2.3%

V stock traded down $7.98 during mid-day trading on Friday, reaching $343.02. 5,447,231 shares of the stock traded hands, compared to its average volume of 5,060,212. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The company has a market cap of $628.67 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.34 and a beta of 0.92. The stock's fifty day moving average is $348.51 and its 200-day moving average is $347.27.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.42 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is 23.05%.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,293 shares of company stock worth $8,114,295. 0.13% of the stock is owned by corporate insiders.

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.