Visa Inc. $V Shares Bought by ICONIQ Capital LLC

Key Points

• ICONIQ Capital LLC increased its stake in Visa Inc. by 18.2%, acquiring an additional 1,261 shares during the first quarter for a total holding valued at approximately $2.87 million.
• Insiders, including General Counsel Julie B. Rottenberg and Paul D. Fabara, sold significant amounts of Visa stock recently, with Fabara's sale leading to a 63.63% decrease in his ownership.
• Visa's quarterly earnings surpassed estimates, reporting $2.98 EPS against a consensus of $2.85, along with revenue of $10.17 billion, reflecting a 14.3% increase year-over-year.

ICONIQ Capital LLC grew its position in shares of Visa Inc. (NYSE:V - Free Report) by 18.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,189 shares of the credit-card processor's stock after purchasing an additional 1,261 shares during the period. ICONIQ Capital LLC's holdings in Visa were worth $2,870,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after purchasing an additional 726,299 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after purchasing an additional 1,723,785 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Visa by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor's stock worth $4,045,149,000 after purchasing an additional 164,008 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm'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 transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,127 shares of company stock worth $28,340,553. Company insiders own 0.13% of the company's stock.

Visa Price Performance

V opened at $349.3180 on Friday. Visa Inc. has a 1 year low of $265.31 and a 1 year high of $375.51. The company's 50 day simple moving average is $347.92 and its 200 day simple moving average is $347.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $640.23 billion, a PE ratio of 34.11, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the firm posted $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Barclays reissued an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group began coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "neutral" rating on the stock. Finally, Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $380.84.

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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