National Bank of Canada FI Has $504.17 Million Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• National Bank of Canada FI has increased its holdings in Visa Inc. by 130.5%, owning approximately 1.44 million shares valued at $504.17 million after acquiring over 814,000 additional shares during the first quarter.
• Visa reported $2.98 earnings per share (EPS) for the last quarter, surpassing estimates by $0.13, with revenues reaching $10.17 billion, a 14.3% year-over-year increase.
• The company will pay a quarterly dividend of $0.59 per share on September 2nd, representing an annual yield of 0.7% and a dividend payout ratio of 23.05%.

National Bank of Canada FI boosted its position in Visa Inc. (NYSE:V - Free Report) by 130.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,438,767 shares of the credit-card processor's stock after buying an additional 814,651 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of Visa worth $504,170,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Brighton Jones LLC grew its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Scotia Capital Inc. grew its holdings in shares of Visa by 5.2% during the fourth quarter. Scotia Capital Inc. now owns 1,531,579 shares of the credit-card processor's stock valued at $484,079,000 after purchasing an additional 75,355 shares during the last quarter. Redwood Park Advisors LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $122,000. Finally, Legacy Financial Advisors Inc. grew its holdings in shares of Visa by 2.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 13,476 shares of the credit-card processor's stock valued at $4,259,000 after purchasing an additional 287 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Visa stock traded up $4.77 during mid-day trading on Friday, hitting $336.86. The company's stock had a trading volume of 6,071,880 shares, compared to its average volume of 6,371,769. The stock has a market capitalization of $621.56 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.25 and a beta of 0.94. Visa Inc. has a twelve month low of $258.74 and a twelve month high of $375.51. The stock's fifty day moving average price is $352.79 and its two-hundred day moving average price is $347.13. 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 issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for 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%. The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 EPS. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% 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, 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 approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock worth $27,643,224 over the last ninety days. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on V shares. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Deutsche Bank Aktiengesellschaft started coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock 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.