Visa Inc. $V Holdings Cut by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB reduced its stake in Visa Inc. by 10.9%, holding 1,387,546 shares after selling 170,173 shares during the second quarter.
• Visa's CEO sold 10,485 shares for over $3.5 million, resulting in a 95.13% decrease in his position, while General Counsel also reduced their stake by 14.53%.
• Analysts have a consensus rating of "Moderate Buy" for Visa, with a target price averaging $389.00 after several positive reports and recommendations from major banks.

AMF Tjanstepension AB cut its position in Visa Inc. (NYSE:V - Free Report) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,387,546 shares of the credit-card processor's stock after selling 170,173 shares during the quarter. Visa comprises 3.3% of AMF Tjanstepension AB's investment portfolio, making the stock its 6th biggest position. AMF Tjanstepension AB owned about 0.08% of Visa worth $492,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the 2nd quarter valued at $28,000. Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after buying an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC bought a new position in shares of Visa during the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $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. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Visa in a report on Saturday, September 27th. Macquarie increased their target price on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $389.00.

Visa Trading Up 0.8%

Shares of V opened at $351.96 on Wednesday. The firm's 50-day moving average price is $343.65 and its 200-day moving average price is $346.93. The firm has a market capitalization of $645.06 billion, a price-to-earnings ratio of 34.37, a PEG ratio of 2.07 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1-year low of $274.01 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 52.16% and a return on equity of 58.93%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.42 EPS. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

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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