Visa Inc. $V Shares Purchased by W1M Asset Management Ltd

Key Points

• W1M Asset Management increased its Visa position by 3.8% in the second quarter, adding 58,855 shares for a total of 1.61 million shares valued at approximately $550.9 million. Institutional investors and hedge funds collectively own 82.15% of Visa.
• Visa reported quarterly earnings of $3.32 per share and revenue of $11.63 billion, surpassing analyst expectations; revenue rose 14.4% year over year. Analysts maintain a consensus “Buy” rating with an average price target of $413.58.
• Visa declared a quarterly dividend of $0.67 per share and maintains authorization for a $20 billion share-repurchase program, while company insiders have sold roughly $32.4 million of stock over the past 90 days.

W1M Asset Management Ltd boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,607,924 shares of the credit-card processor's stock after purchasing an additional 58,855 shares during the quarter. Visa makes up 5.0% of W1M Asset Management Ltd's portfolio, making the stock its 3rd biggest holding. W1M Asset Management Ltd owned 0.09% of Visa worth $550,851,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Nixon Peabody Trust Co. increased its stake in shares of Visa by 58.1% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor's stock worth $1,270,000 after purchasing an additional 1,543 shares in the last quarter. Vanguard Group Inc. grew its holdings in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor's stock valued at $56,455,834,000 after buying an additional 1,054,343 shares during the last quarter. Beacon Financial Group increased its position in Visa by 83.9% during the first quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor's stock worth $6,801,000 after buying an additional 10,267 shares in the last quarter. Sterling Investment Management LLC raised its holdings in shares of Visa by 43.7% in the fourth quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor's stock worth $6,254,000 after acquiring an additional 5,421 shares during the last quarter. Finally, Pincus Capital Management LP acquired a new position in shares of Visa in the fourth quarter worth $4,278,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on V. TD Cowen reaffirmed a "buy" rating on shares of Visa in a research note on Wednesday, July 29th. Morgan Stanley reissued an "overweight" rating and issued a $416.00 target price on shares of Visa in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Visa from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $412.00 price target (up from $395.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Robert W. Baird lifted their price target on shares of Visa from $412.00 to $420.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of "Buy" and a consensus price target of $413.58.

Visa Stock Up 1.5%

V opened at $371.09 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $662.18 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74. The business has a 50-day moving average of $353.73 and a two-hundred day moving average of $329.64. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the prior year, the firm posted $2.98 EPS. The company's revenue was up 14.4% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 13.16 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa's dividend payout ratio (DPR) is 22.79%.

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 purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Visa

In related news, insider Tullier Kelly Mahon sold 57,272 shares of Visa stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the transaction, the insider owned 49,662 shares in the company, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 20,970 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $340.25, for a total value of $7,135,042.50. Following the sale, the chief executive officer directly owned 15,174 shares of the company's stock, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 90,759 shares of company stock worth $32,375,779. 0.12% of the stock is owned by insiders.

Visa Company 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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source