United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Has $103.99 Million Stock Position in Visa Inc. (NYSE:V)

Key Points

• United Super Pty Ltd sold 27,029 shares of Visa Inc., reducing its holdings by 8.3%, and its investment in Visa now totals $103.99 million.
• Insider transactions included Paul D. Fabara selling 11,636 shares, and CEO Ryan Mcinerney selling 8,630 shares, both resulting in significant decreases in their ownership positions.
• Visa recently reported Q3 earnings of $2.98 EPS, surpassing analysts' expectations, and announced a $0.59 quarterly dividend with a yield of 0.7%.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund cut its position in shares of Visa Inc. (NYSE:V - Free Report) by 8.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 296,731 shares of the credit-card processor's stock after selling 27,029 shares during the quarter. Visa accounts for about 4.2% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's portfolio, making the stock its 6th biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in Visa were worth $103,992,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of V. Lakeridge Wealth Management LLC boosted its position in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $306,000. Aptus Capital Advisors LLC boosted its holdings in shares of Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after buying an additional 30,185 shares during the last quarter. Eagle Strategies LLC boosted its holdings in shares of Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after buying an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Visa by 7.7% in the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock valued at $192,948,000 after buying an additional 43,546 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Down 1.9%

Shares of Visa stock traded down $6.66 during midday trading on Friday, reaching $338.81. The company had a trading volume of 8,655,366 shares, compared to its average volume of 5,746,410. The firm has a market cap of $625.16 billion, a PE ratio of 33.09, a P/E/G ratio of 2.26 and a beta of 0.94. The stock has a fifty day moving average price of $355.06 and a 200 day moving average price of $346.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.08. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51.

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. The company 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 firm's revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on V. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Finally, Oppenheimer raised 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. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated 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 directly owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,913 shares of company stock valued at $32,902,432 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.