Fifth Third Bancorp raised its position in Visa Inc. (NYSE:V - Free Report) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 417,752 shares of the credit-card processor's stock after purchasing an additional 4,310 shares during the quarter. Fifth Third Bancorp's holdings in Visa were worth $148,323,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted 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 buying an additional 14,723,050 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Visa during the first quarter worth $3,518,533,000. Vanguard Group Inc. raised its stake in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. Finally, MUFG Securities EMEA plc purchased a new position in Visa in the first quarter valued at $373,240,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Visa
In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value 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 represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.
Visa Stock Down 0.0%
Shares of Visa stock opened at $338.69 on Thursday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The company has a market cap of $620.75 billion, a P/E ratio of 33.08, a PEG ratio of 2.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a fifty day moving average of $345.19 and a two-hundred day moving average of $346.27.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The firm's quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is currently 23.05%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on V shares. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Erste Group Bank cut Visa from a "buy" rating to a "hold" rating in a research report on Monday. UBS Group reissued a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Finally, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and upped their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $385.96.
Check Out Our Latest Analysis on Visa
Visa Company Profile
(
Free Report)
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.
Further Reading
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