Bank of Hawaii Cuts Stake in Visa Inc. $V

Key Points

• Bank of Hawaii reduced its stake in Visa Inc. by 9.2% during the first quarter, holding 34,640 shares worth approximately $12.14 million.
• Several institutional investors increased their holdings in Visa, with Vanguard Group growing its stake by 1.1% and GAMMA Investing LLC by an astonishing 38,416.3%.
• Visa recently reported earnings of $2.98 per share for the last quarter, exceeding analysts' expectations and marking a 14.3% year-over-year revenue increase.

Bank of Hawaii reduced its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,640 shares of the credit-card processor's stock after selling 3,500 shares during the period. Visa comprises 0.7% of Bank of Hawaii's investment portfolio, making the stock its 27th largest holding. Bank of Hawaii's holdings in Visa were worth $12,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings 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 worth $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Northern Trust Corp grew its holdings 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 worth $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 worth $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 worth $4,210,207,000 after acquiring an additional 1,723,785 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Visa by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor's stock worth $4,045,149,000 after acquiring an additional 164,008 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 77,127 shares of company stock worth $28,340,553 in the last 90 days. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Macquarie boosted their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. BMO Capital Markets boosted their price target on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $380.84.

Visa Trading Up 1.6%

Shares of Visa stock opened at $349.3180 on Monday. The company has a fifty day simple moving average of $347.92 and a 200-day simple moving average of $347.39. Visa Inc. has a 12-month low of $265.31 and a 12-month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $640.23 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

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

Visa Company 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.

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