Visa Inc. $V Position Reduced by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd reduced its holdings in Visa Inc. by 0.2%, owning approximately 6.24 million shares worth $2.22 billion, making it the firm's second largest investment.
• Insider activity included significant stock sales by General Counsel Julie B. Rottenberg and CEO Ryan Mcinerney, decreasing their ownership by 14.53% and 95.13%, respectively.
• Visa reported strong quarterly earnings with an EPS of $2.98, surpassing estimates, and generated $10.17 billion in revenue, reflecting a 14.3% year-over-year growth.

Ninety One UK Ltd trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,240,048 shares of the credit-card processor's stock after selling 10,025 shares during the quarter. Visa makes up 5.2% of Ninety One UK Ltd's portfolio, making the stock its 2nd biggest holding. Ninety One UK Ltd owned 0.34% of Visa worth $2,215,529,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of V. Keystone Global Partners LLC purchased a new stake in Visa during the first quarter worth $26,000. von Borstel & Associates Inc. purchased a new stake in Visa during the first quarter worth $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa in the second quarter valued at $28,000. Cranbrook Wealth Management LLC lifted its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new stake in shares of Visa in the first quarter valued at $38,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Stock Performance

Visa stock opened at $349.90 on Friday. The firm has a market capitalization of $641.29 billion, a P/E ratio of 34.17, a PEG ratio of 2.05 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. The stock has a fifty day moving average price of $343.78 and a 200 day moving average price of $346.70. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.42 earnings per share. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared 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. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on V shares. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective on the stock. Morgan Stanley upped their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research report on Saturday, September 27th. Finally, Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

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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