Mirova US LLC Grows Holdings in Visa Inc. $V

Key Points

• Mirova US LLC increased its holdings in Visa Inc. by 3.7%, owning a total of 825,940 shares worth approximately $293.25 million as of the latest reporting period.
• Several other institutional investors also upped their stakes in Visa, with 82.15% of the stock currently owned by hedge funds and institutional investors.
• Visa's recent earnings report showed a profit of $2.98 per share, exceeding analysts' expectations, with revenue of $10.17 billion, which is a 14.3% increase year-over-year.

Mirova US LLC raised its position in Visa Inc. (NYSE:V - Free Report) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 825,940 shares of the credit-card processor's stock after purchasing an additional 29,300 shares during the period. Visa comprises about 3.0% of Mirova US LLC's investment portfolio, making the stock its 13th largest position. Mirova US LLC's holdings in Visa were worth $293,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Yeomans Consulting Group Inc. increased its stake in shares of Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the last quarter. Semus Wealth Partners LLC increased its stake in shares of Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after acquiring an additional 29 shares during the last quarter. BankPlus Wealth Management LLC increased its stake in shares of Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after acquiring an additional 29 shares during the last quarter. Wood Tarver Financial Group LLC increased its stake in shares of Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock valued at $105,000 after acquiring an additional 30 shares during the last quarter. Finally, Synergy Investment Management LLC increased its stake in shares of Visa by 5.3% during the 1st quarter. Synergy Investment Management LLC now owns 597 shares of the credit-card processor's stock valued at $209,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on V shares. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Barclays reissued an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Robert W. Baird set a $410.00 target price on shares of Visa and gave the stock an "outperform" rating in a research report on Monday. Oppenheimer increased their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and an average price target of $389.00.

Visa Stock Down 1.0%

NYSE V opened at $343.63 on Friday. The stock has a market cap of $629.79 billion, a PE ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. Visa Inc. has a fifty-two week low of $275.37 and a fifty-two week high of $375.51. The business has a 50 day moving average price of $343.77 and a two-hundred day moving average price of $346.97. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

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, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.42 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.