E. Ohman J or Asset Management AB Has $100.47 Million Stock Position in Visa Inc. $V

Key Points

• E. Öhman Jor Asset Management increased its Visa stake by 20.4% in the second quarter, owning 292,835 shares valued at approximately $100.47 million. Institutional investors collectively hold 82.15% of Visa’s stock.
• Visa reported quarterly adjusted earnings of $3.32 per share and revenue of $11.63 billion, beating analyst estimates, while revenue rose 14.4% year over year. The company also authorized a $20 billion share-repurchase program.
• Analysts remain bullish, with Visa carrying a consensus “Buy” rating and an average price target of $413.58 versus a recent price of $360.67. Visa also declared a quarterly dividend of $0.67 per share, equating to a 0.7% annual yield.

E. Ohman J or Asset Management AB lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 20.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 292,835 shares of the credit-card processor's stock after purchasing an additional 49,554 shares during the period. Visa comprises about 2.3% of E. Ohman J or Asset Management AB's investment portfolio, making the stock its 8th biggest position. E. Ohman J or Asset Management AB's holdings in Visa were worth $100,469,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Visa in the 4th quarter valued at about $5,877,738,000. Cardano Risk Management B.V. increased its stake in Visa by 867.6% in the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor's stock worth $2,880,595,000 after purchasing an additional 7,364,762 shares during the period. Diamant Asset Management Inc. lifted its position in Visa by 29,706.3% in the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor's stock valued at $2,216,310,000 after purchasing an additional 7,308,345 shares during the last quarter. J. Stern & Co. LLP boosted its stake in shares of Visa by 12,497.1% during the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor's stock valued at $1,184,712,000 after purchasing an additional 3,351,223 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Visa by 48.2% during the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor's stock valued at $2,282,472,000 after purchasing an additional 2,116,463 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other news, insider Tullier Kelly Mahon sold 57,272 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares of the company's stock, valued at $18,125,140.14. This represents a 53.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the transaction, the general counsel owned 18,404 shares in the company, valued at $6,625,440. This trade represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 90,759 shares of company stock worth $32,375,779. 0.12% of the stock is owned by insiders.

Visa Trading Down 0.5%

Visa stock opened at $360.67 on Tuesday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97. The company has a market capitalization of $643.59 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 1.94 and a beta of 0.74. The business's fifty day simple moving average is $345.87 and its two-hundred day simple moving average is $327.28. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same quarter in the prior year, the firm posted $2.98 earnings per share. The business's revenue was up 14.4% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 13.14 earnings per share for the current fiscal year.

Visa declared that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is presently 22.79%.

Analyst Ratings Changes

V has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Visa from $400.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $406.00 price objective on shares of Visa in a research note on Wednesday, July 29th. Evercore set a $350.00 target price on shares of Visa in a report on Wednesday, April 29th. UBS Group reissued a "buy" rating and issued a $420.00 target price (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $430.00 price target on shares of Visa in a research report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company's stock. According to MarketBeat, Visa currently has an average rating of "Buy" and a consensus target price of $413.58.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source