Te Ahumairangi Investment Management Ltd Reduces Stock Position in Visa Inc. $V

Key Points

• Te Ahumairangi Investment Management Ltd reduced its stake in Visa Inc. by 5.0%, leaving it with 27,281 shares and making up 2.0% of its total holdings.
• Visa recently announced a quarterly dividend of $0.59 per share, set to be paid on September 2nd, reflecting an annual yield of 0.7%.
• Analysts have adjusted their price targets for Visa, with Morgan Stanley and Mizuho both raising their targets significantly, indicating a positive outlook for the stock.

Te Ahumairangi Investment Management Ltd lessened its position in Visa Inc. (NYSE:V - Free Report) by 5.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,281 shares of the credit-card processor's stock after selling 1,446 shares during the period. Visa makes up 2.0% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 9th largest position. Te Ahumairangi Investment Management Ltd's holdings in Visa were worth $9,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of V. Keystone Global Partners LLC bought a new stake in shares of Visa in the 1st quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth $27,000. Measured Risk Portfolios Inc. bought a new stake in shares of Visa in the 4th quarter worth $47,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa in the 1st quarter worth $54,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of Visa in the 1st quarter worth $56,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Down 0.1%

NYSE:V opened at $350.10 on Friday. The firm has a market capitalization of $641.65 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business's fifty day moving average price is $348.07 and its 200 day moving average price is $347.44.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Activity at Visa

In related 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 transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,127 shares of company stock valued at $28,340,553. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on V shares. Morgan Stanley boosted their price objective on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research 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 research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

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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