Visa Inc. $V Position Reduced by Border to Coast Pensions Partnership Ltd

Key Points

• Border to Coast Pensions Partnership Ltd cut its Visa stake by 30.5% in Q1, selling 55,608 shares and leaving it with 126,459 shares valued at about $38.3 million.
• Visa reported strong quarterly results, posting EPS of $3.31 versus the $3.10 estimate and revenue of $11.23 billion, up 17.1% year over year.
• The company also authorized a $20 billion share repurchase program and paid a quarterly dividend of $0.67 per share, while analysts maintain a consensus Buy rating with a $387.78 average price target.

Border to Coast Pensions Partnership Ltd trimmed its position in Visa Inc. (NYSE:V - Free Report) by 30.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 126,459 shares of the credit-card processor's stock after selling 55,608 shares during the period. Border to Coast Pensions Partnership Ltd's holdings in Visa were worth $38,338,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Visa during the fourth quarter worth about $5,877,738,000. Cardano Risk Management B.V. raised its position in Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor's stock worth $2,880,595,000 after acquiring an additional 7,364,762 shares in the last quarter. J. Stern & Co. LLP lifted its holdings in Visa by 12,497.1% in the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor's stock valued at $1,184,712,000 after acquiring an additional 3,351,223 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Visa by 48.2% in the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor's stock valued at $2,282,472,000 after acquiring an additional 2,116,463 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor's stock valued at $1,396,930,000 after purchasing an additional 2,075,289 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by insiders.

Visa Trading Up 0.2%

NYSE:V opened at $336.96 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $359.66. The firm has a market capitalization of $604.43 billion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.80 and a beta of 0.77. The stock has a fifty day simple moving average of $323.36 and a 200 day simple moving average of $324.29.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter in the previous year, the company earned $2.76 EPS. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 13.09 earnings per share for the current year.

Visa declared that its Board of Directors has authorized a share repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa's payout ratio is currently 23.34%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Evercore set a $350.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Cantor Fitzgerald reissued an "overweight" rating and set a $400.00 target price on shares of Visa in a research note on Wednesday, April 29th. Sanford C. Bernstein restated an "outperform" rating and set a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. BMO Capital Markets initiated coverage on shares of Visa in a research report on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 price target on the stock. Finally, Truist Financial set a $371.00 price target on Visa and gave the company a "buy" rating in a report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $387.78.

Trending Headlines about Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa's New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.