Visa Inc. (NYSE:V) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ has reduced its stake in Visa Inc. by 3.8%, owning approximately 1,202,307 shares after selling 47,003 shares in the first quarter.
• Visa's stock has received positive reviews from analysts, with BMO Capital Markets raising its price target from $370.00 to $380.00 and an overall rating of "Moderate Buy" based on various ratings.
• Visa reported a net margin of 52.86% and a quarterly revenue increase of 9.3% year-over-year, posting an EPS of $2.76, beating estimates by $0.08.

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 3.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,202,307 shares of the credit-card processor's stock after selling 47,003 shares during the quarter. Visa accounts for approximately 2.1% of Skandinaviska Enskilda Banken AB publ's investment portfolio, making the stock its 7th largest holding. Skandinaviska Enskilda Banken AB publ owned 0.06% of Visa worth $421,180,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of V. FWL Investment Management LLC raised its position in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after acquiring an additional 29 shares during the period. Yeomans Consulting Group Inc. boosted its position 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 worth $360,000 after purchasing an additional 29 shares in the last quarter. Capstone Financial Advisors Inc. grew its holdings in Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after purchasing an additional 30 shares during the period. Headinvest LLC raised its stake in shares of Visa by 0.8% during the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after buying an additional 30 shares during the period. Finally, Kennebec Savings Bank lifted its position in shares of Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

Visa Trading Up 0.8%

Visa stock traded up $2.96 during trading on Friday, hitting $356.93. The company had a trading volume of 3,915,274 shares, compared to its average volume of 5,404,370. The stock has a market cap of $658.60 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1-year low of $254.51 and a 1-year high of $375.51. The company's 50 day simple moving average is $356.30 and its 200-day simple moving average is $345.22.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the business earned $2.51 EPS. The company's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Truist Financial reduced their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Barclays reaffirmed an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. Finally, Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $375.52.

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.