Kodai Capital Management LP Sells 28,639 Shares of Visa Inc. $V

Key Points

• Kodai Capital Management LP reduced its holdings in Visa Inc. by 18.9% in the first quarter, now holding 123,032 shares valued at approximately $43.12 million.
• Insider transactions included General Counsel Julie B. Rottenberg selling 2,027 shares, and CEO Ryan McInerney selling 8,630 shares, reflecting significant decreases in their respective positions.
• Visa's shares recently received upgrades from various analysts, with target prices ranging from $410 to $425, indicating a consensus rating of "Moderate Buy".

Kodai Capital Management LP lessened its stake in Visa Inc. (NYSE:V - Free Report) by 18.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,032 shares of the credit-card processor's stock after selling 28,639 shares during the quarter. Visa comprises 1.7% of Kodai Capital Management LP's investment portfolio, making the stock its 13th biggest position. Kodai Capital Management LP's holdings in Visa were worth $43,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Visa during the first quarter valued at about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Visa during the fourth quarter valued at about $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Visa by 14.9% during the fourth 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 valued at $4,210,207,000 after purchasing an additional 1,723,785 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% during 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 purchasing an additional 1,677,088 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

Shares of V stock traded up $2.06 during trading on Friday, hitting $351.92. The company's stock had a trading volume of 3,670,969 shares, compared to its average volume of 6,106,106. The company has a market cap of $645.00 billion, a PE ratio of 34.37, a P/E/G ratio of 2.34 and a beta of 0.94. 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 business has a fifty day moving average of $348.35 and a 200-day moving average of $347.42. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51.

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, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business'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 sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,127 shares of company stock valued at $28,340,553 over the last three months. Corporate insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $380.84.

About Visa

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.