Alecta Tjanstepension Omsesidigt Sells 179,000 Shares of Visa Inc. $V

Key Points

• Alecta Tjanstepension Omsesidigt reduced its stake in Visa Inc. by 10.5%, owning approximately 1.52 million shares after selling 179,000 shares during the second quarter.
• Visa's stock is currently priced at $338.45, with a market cap of $620.32 billion and a price-to-earnings ratio of 33.05.
• The company reported earnings of $2.98 per share, surpassing analysts' expectations, and announced a quarterly dividend of $0.59 per share.

Alecta Tjanstepension Omsesidigt lowered its stake in Visa Inc. (NYSE:V - Free Report) by 10.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,522,600 shares of the credit-card processor's stock after selling 179,000 shares during the period. Visa makes up 2.5% of Alecta Tjanstepension Omsesidigt's portfolio, making the stock its 9th largest holding. Alecta Tjanstepension Omsesidigt owned 0.08% of Visa worth $540,112,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of V. Yeomans Consulting Group Inc. lifted its holdings in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC lifted its holdings in Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares in the last quarter. Headinvest LLC lifted its holdings in Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares in the last quarter. Kennebec Savings Bank lifted its holdings in Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock valued at $1,182,000 after purchasing an additional 30 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in Visa by 0.8% during the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock valued at $1,345,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on V. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. UBS Group reiterated a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Macquarie boosted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Finally, Morgan Stanley boosted their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Visa presently has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Buying and Selling

In other news, 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 sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred 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. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Visa Stock Up 1.2%

Shares of V stock traded up $3.89 during mid-day trading on Friday, hitting $342.07. 13,657,860 shares of the stock traded hands, compared to its average volume of 4,986,314. The stock has a market cap of $626.94 billion, a P/E ratio of 33.41, a P/E/G ratio of 2.27 and a beta of 0.92. The stock's fifty day moving average is $345.70 and its two-hundred day moving average is $346.37. Visa Inc. has a 52-week low of $268.23 and a 52-week 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.

Visa (NYSE:V - Get Free Report) last released 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. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's quarterly 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 analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

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.