Livforsakringsbolaget Skandia Omsesidigt Sells 18,080 Shares of Visa Inc. $V

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has reduced its stake in Visa Inc. by 27.4%, selling 18,080 shares in the second quarter, resulting in a remaining ownership of 47,835 shares worth approximately $16.98 million.
• Visa reported a quarterly earnings per share (EPS) of $2.98, exceeding analyst expectations of $2.85, with a revenue of $10.17 billion which was also above the projected $9.82 billion.
• The company has announced a quarterly dividend of $0.59 per share, representing an annualized yield of 0.7% and a payout ratio of 23.05%.

Livforsakringsbolaget Skandia Omsesidigt lowered its position in Visa Inc. (NYSE:V - Free Report) by 27.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,835 shares of the credit-card processor's stock after selling 18,080 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Visa were worth $16,984,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in V. GAMMA Investing LLC increased 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 purchasing an additional 14,723,050 shares in the last quarter. Nuveen LLC acquired a new position in shares of Visa during the 1st quarter worth about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Visa during the 4th quarter worth 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 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 buying an additional 1,723,785 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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 buying an additional 1,677,088 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred 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 transaction, the general counsel owned 11,925 shares of the company's stock, valued at approximately $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 owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on V. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. UBS Group reiterated a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Barclays reiterated an "overweight" rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. One 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Stock Performance

Shares of NYSE:V traded up $2.34 during trading on Friday, reaching $340.52. 3,094,107 shares of the stock were exchanged, compared to its average volume of 6,415,488. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The stock has a 50-day moving average price of $345.81 and a 200-day moving average price of $346.47. The firm has a market cap of $624.09 billion, a PE ratio of 33.27, a PEG ratio of 2.30 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the business earned $2.42 earnings per share. The firm's quarterly revenue was up 14.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Visa 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.