Formuepleje A S Trims Position in Visa Inc. $V

Key Points

• Formuepleje A S cut its Visa stake by 6.3% in the second quarter, selling 12,540 shares and retaining 185,158 shares valued at approximately $63.5 million. Visa remains 5.0% of the firm’s portfolio.
• Visa reported strong quarterly results, with EPS of $3.32 and revenue of $11.63 billion, exceeding analyst estimates; revenue increased 14.4% year over year. The company also maintains a $0.67 quarterly dividend, yielding about 0.7% annually.
• Analysts remain bullish, with an average “Buy” rating and a $416.62 price target. Meanwhile, Visa insiders sold approximately $37.5 million of stock over the past 90 days, primarily through pre-arranged trading plans.

Formuepleje A S reduced its stake in Visa Inc. (NYSE:V - Free Report) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,158 shares of the credit-card processor's stock after selling 12,540 shares during the period. Visa comprises 5.0% of Formuepleje A S's investment portfolio, making the stock its 6th largest position. Formuepleje A S's holdings in Visa were worth $63,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. XXEC Inc. raised its holdings in Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor's stock valued at $63,904,097,000 after buying an additional 186,138,883 shares during the last quarter. State Street Corp grew its holdings in Visa by 0.8% in the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor's stock worth $29,038,140,000 after acquiring an additional 626,821 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor's stock valued at $15,411,395,000 after acquiring an additional 388,996 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor's stock valued at $14,411,480,000 after acquiring an additional 716,218 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Visa by 1.7% during the fourth quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor's stock valued at $8,359,291,000 after acquiring an additional 398,459 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 5,875 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $379.65, for a total transaction of $2,230,443.75. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,760,809.10. The trade was a 27.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the company's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at $7,018,365.40. This represents a 9.93% 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. Insiders have sold 104,537 shares of company stock worth $37,540,837 over the last ninety days. 0.12% of the stock is owned by corporate insiders.

Visa Price Performance

V stock opened at $374.46 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $385.57. The firm has a 50-day moving average of $363.63 and a 200 day moving average of $333.40. The company has a market cap of $668.20 billion, a P/E ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The business had revenue of $11.63 billion for the quarter, compared to analysts' expectations of $11.40 billion. During the same period in the previous year, the firm posted $2.98 EPS. The business's revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is currently 22.79%.

Analysts Set New Price Targets

Several research firms recently issued reports on V. JPMorgan Chase & Co. raised their target price on Visa from $400.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Citigroup reaffirmed a "buy" rating and set a $440.00 price target (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Piper Sandler reiterated an "overweight" rating and issued a $430.00 price objective (up from $394.00) on shares of Visa in a report on Wednesday, July 29th. Weiss Ratings upgraded Visa from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 30th. Finally, Morgan Stanley reissued an "overweight" rating and set a $416.00 target price on shares of Visa in a research note on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $416.62.

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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