Pensionfund Sabic Has $5.08 Million Stock Position in Visa Inc. $V

Key Points

• Pensionfund Sabic reduced its stake in Visa Inc. by 12.7%, ending the quarter with 14,500 shares valued at approximately $5.08 million.
• Despite Sabic's decrease, other institutional investors, such as Fjarde AP Fonden, increased their holdings significantly, with Fjarde acquiring an additional 57,800 shares during the same quarter.
• Visa recently reported earnings of $2.98 EPS, exceeding estimates and showing a 14.3% year-over-year revenue growth.

Pensionfund Sabic cut its holdings in Visa Inc. (NYSE:V - Free Report) by 12.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,500 shares of the credit-card processor's stock after selling 2,100 shares during the period. Visa comprises approximately 1.5% of Pensionfund Sabic's portfolio, making the stock its 8th biggest holding. Pensionfund Sabic's holdings in Visa were worth $5,082,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Lakeridge Wealth Management LLC grew its holdings in shares of Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after acquiring an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC grew its holdings in shares of Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares in the last quarter. Yeomans Consulting Group Inc. lifted its stake in Visa by 2.9% in 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. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Down 1.2%

NYSE:V opened at $339.33 on Friday. The company has a market cap of $621.92 billion, a P/E ratio of 33.14, a P/E/G ratio of 2.29 and a beta of 0.92. The stock's fifty day moving average price is $347.03 and its two-hundred day moving average price is $346.94. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

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

Visa Announces Dividend

The business also recently announced 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. The ex-dividend date was 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%.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was 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 in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on V shares. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer upped their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

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.

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