Nordea Investment Management AB Has $1.02 Billion Position in Visa Inc. $V

Key Points

• Nordea Investment Management AB reduced its stake in Visa Inc. by 16.6%, holding 2,898,338 shares valued at approximately $1.02 billion, which is 0.9% of its portfolio.
• Analysts have a consensus rating of "Moderate Buy" for Visa, with price targets ranging from $389 to $425.
• Visa reported a 14.3% increase in revenue year-over-year, achieving earnings per share (EPS) of $2.98, surpassing estimates by $0.13.

Nordea Investment Management AB lessened its stake in shares of Visa Inc. (NYSE:V - Free Report) by 16.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,898,338 shares of the credit-card processor's stock after selling 575,842 shares during the period. Visa accounts for 0.9% of Nordea Investment Management AB's portfolio, making the stock its 16th largest holding. Nordea Investment Management AB owned 0.16% of Visa worth $1,018,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Yeomans Consulting Group Inc. grew its holdings in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. Semus Wealth Partners LLC grew its holdings in Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares during the last quarter. BankPlus Wealth Management LLC grew its holdings in Visa by 0.9% during the second quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after purchasing an additional 29 shares during the last quarter. Transcendent Capital Group LLC grew its holdings in Visa by 2.9% during the second quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. Finally, Wood Tarver Financial Group LLC grew its holdings in Visa by 11.1% during the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock valued at $105,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on V. Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Robert W. Baird set a $410.00 price objective on Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. Erste Group Bank cut Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Insider Buying and Selling at Visa

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 value 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 filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Trading Up 1.9%

Shares of Visa stock opened at $341.90 on Monday. The firm has a market capitalization of $626.63 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company's fifty day moving average price is $344.30 and its two-hundred day moving average price is $346.89. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly 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 firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's payout ratio is 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.

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