Federation des caisses Desjardins du Quebec Purchases 5,587 Shares of Visa Inc. $V

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Visa Inc. by 1.0%, holding 585,651 shares worth $205.3 million, making Visa 24th in their investment portfolio.
• Analysts have raised their price targets on Visa, with Mizuho increasing its target from $359 to $425, while UBS updated its target from $405 to $415.
• Visa reported a quarterly EPS of $2.98, exceeding estimates, with a revenue of $10.17 billion, reflecting a 14.3% year-over-year increase.

Federation des caisses Desjardins du Quebec increased its stake in Visa Inc. (NYSE:V - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 585,651 shares of the credit-card processor's stock after acquiring an additional 5,587 shares during the period. Visa comprises about 1.0% of Federation des caisses Desjardins du Quebec's holdings, making the stock its 24th largest holding. Federation des caisses Desjardins du Quebec's holdings in Visa were worth $205,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake 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 last quarter. Northern Trust Corp boosted its stake in shares of Visa by 4.0% in 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 buying an additional 726,299 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Visa by 38,416.3% in 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 buying an additional 14,723,050 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Visa by 14.9% in 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 period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after purchasing an additional 434,217 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.1%

Shares of V traded up $0.28 during midday trading on Wednesday, reaching $350.35. The stock had a trading volume of 4,035,793 shares, compared to its average volume of 5,490,003. The company's fifty day simple moving average is $348.56 and its two-hundred day simple moving average is $347.38. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $642.11 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 2.34 and a beta of 0.92.

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

Visa Announces Dividend

The firm 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 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Analyst Ratings Changes

A number of equities research analysts have commented on V shares. Oppenheimer raised their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. Macquarie boosted their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, UBS Group reaffirmed a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $383.17.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,507 shares of company stock worth $25,213,475. 0.13% of the stock is currently owned by company insiders.

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.