UniSuper Management Pty Ltd Sells 1,782 Shares of Visa Inc. $V

Key Points

• UniSuper Management Pty Ltd reduced its stake in Visa Inc. by selling 1,782 shares, bringing its total ownership to 803,241 shares, which represent 2.1% of the fund's portfolio.
• Visa reported strong quarterly earnings with an EPS of $2.98, exceeding analyst expectations of $2.85, and a revenue of $10.17 billion, up 14.3% from the previous year.
• Analyst ratings for Visa are predominantly positive, with several firms raising price targets and assigning "buy" or "outperform" ratings, indicating strong investor confidence in the stock's potential growth.

UniSuper Management Pty Ltd trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 0.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 803,241 shares of the credit-card processor's stock after selling 1,782 shares during the quarter. Visa comprises 2.1% of UniSuper Management Pty Ltd's portfolio, making the stock its 9th biggest holding. UniSuper Management Pty Ltd's holdings in Visa were worth $281,504,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter worth $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the 1st quarter worth $27,000. 1 North Wealth Services LLC bought a new stake in shares of Visa during the 1st quarter worth $38,000. Measured Risk Portfolios Inc. bought a new stake in shares of Visa during the 4th quarter worth $47,000. Finally, O Brien Wealth Partners LLC bought a new stake in shares of Visa during the 1st quarter worth $54,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on V shares. Macquarie upped their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. UBS Group reiterated a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Price Performance

NYSE:V opened at $343.02 on Friday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The stock has a market cap of $628.67 billion, a P/E ratio of 33.50, a PEG ratio of 2.28 and a beta of 0.92. 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 has a fifty day moving average price of $348.51 and a 200 day moving average price of $347.22.

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

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Insider Activity

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,293 shares of company stock worth $8,114,295. 0.13% of the stock is currently owned by corporate insiders.

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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