US Bancorp DE Trims Holdings in Visa Inc. $V

Key Points

• US Bancorp DE reduced its holdings in Visa Inc. by 0.9%, owning a total of 1,002,899 shares valued at approximately $356,089,000 after selling 8,816 shares.
• Hedge funds and institutional investors own 82.15% of Visa's stock, with notable firms like Vanguard and Wellington Management increasing their positions recently.
• Visa's CEO recently sold 10,485 shares at an average price of $342.30, marking a significant decrease of 95.13% in their ownership of the company.

US Bancorp DE lessened its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,002,899 shares of the credit-card processor's stock after selling 8,816 shares during the period. US Bancorp DE owned about 0.05% of Visa worth $356,089,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of V. Nuveen LLC purchased a new position in Visa during the 1st quarter valued at about $3,518,533,000. Vanguard Group Inc. increased its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Wellington Management Group LLP increased its holdings in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. MUFG Securities EMEA plc purchased a new position in Visa during the 1st quarter valued at about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Visa by 7.2% during the 1st 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 acquiring an additional 955,392 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on V. UBS Group reaffirmed a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a research report on Wednesday, October 8th. Erste Group Bank cut Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Oppenheimer lifted 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. Finally, Robert W. Baird set a $410.00 price objective on Visa and gave the company an "outperform" rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of V opened at $343.63 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business's 50 day moving average price is $343.77 and its 200-day moving average price is $346.97. Visa Inc. has a 52 week low of $275.37 and a 52 week high of $375.51. The stock has a market cap of $629.79 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.03 and a beta of 0.90.

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

Visa Dividend Announcement

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

Visa Company 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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