Arbejdsmarkedets Tillaegspension Has $25.21 Million Stock Holdings in Visa Inc. $V

Key Points

• Arbejdsmarkedets Tillaegspension increased its Visa stake by 17.1% in the first quarter, buying 12,173 additional shares to bring its total to 83,410 shares worth about $25.21 million.
• Visa reported strong quarterly results, beating earnings and revenue expectations with EPS of $3.31 on revenue of $11.23 billion, and revenue rose 17.1% year over year.
• Visa is returning capital to shareholders through a new $20 billion share repurchase authorization and a quarterly dividend of $0.67 per share, while analysts remain broadly positive with a consensus “Buy” rating.

Arbejdsmarkedets Tillaegspension raised its stake in Visa Inc. (NYSE:V - Free Report) by 17.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,410 shares of the credit-card processor's stock after buying an additional 12,173 shares during the period. Arbejdsmarkedets Tillaegspension's holdings in Visa were worth $25,210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. AMF Tjanstepension AB lifted its stake in shares of Visa by 2.6% in the 1st quarter. AMF Tjanstepension AB now owns 1,423,049 shares of the credit-card processor's stock valued at $430,102,000 after acquiring an additional 36,221 shares during the last quarter. J. Safra Sarasin Holding AG grew its position in Visa by 2.2% during the 1st quarter. J. Safra Sarasin Holding AG now owns 43,527 shares of the credit-card processor's stock worth $13,127,000 after acquiring an additional 917 shares during the last quarter. Applied Finance Capital Management LLC increased its holdings in Visa by 14.3% in the 1st quarter. Applied Finance Capital Management LLC now owns 39,763 shares of the credit-card processor's stock worth $12,018,000 after purchasing an additional 4,988 shares in the last quarter. Lifeworks Advisors LLC increased its holdings in Visa by 294.0% in the 1st quarter. Lifeworks Advisors LLC now owns 14,351 shares of the credit-card processor's stock worth $4,337,000 after purchasing an additional 10,709 shares in the last quarter. Finally, Persium Advisors LLC raised its position in Visa by 16.9% in the first quarter. Persium Advisors LLC now owns 2,315 shares of the credit-card processor's stock valued at $700,000 after purchasing an additional 334 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company's stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel owned 18,404 shares of the company's stock, valued at approximately $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 75,581 shares of company stock valued at $25,627,975. Corporate insiders own 0.12% of the company's stock.

Visa Stock Up 0.0%

Shares of NYSE V opened at $349.05 on Monday. The company's 50 day moving average price is $330.81 and its 200-day moving average price is $324.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $365.02. The company has a market capitalization of $626.12 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion during the quarter, compared to analysts' expectations of $10.75 billion. During the same period in the prior year, the company posted $2.76 earnings per share. Visa's revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post 13.1 earnings per share for the current year.

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

Visa Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently weighed in on V shares. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Visa from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, July 6th. Truist Financial set a $371.00 target price on shares of Visa and gave the stock a "buy" rating in a report on Tuesday, May 12th. Loop Capital assumed coverage on shares of Visa in a research report on Tuesday, March 31st. They issued a "buy" rating and a $387.00 price target for the company. Finally, Oppenheimer reaffirmed 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. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $397.91.

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.

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