Visa Inc. $V Stake Raised by Itau Unibanco Holding S.A.

Key Points

• Itau Unibanco Holding S.A. increased its stake in Visa Inc. by 47.9% in Q1, holding 6,476 shares worth approximately $2.27 million.
• Multiple institutional investors, including Vanguard Group and Northern Trust Corp, also raised their positions in Visa, which is currently 82.15% owned by institutional investors.
• Visa recently declared a quarterly dividend of $0.59, with an ex-dividend date of August 12th, representing an annualized dividend yield of 0.7%.

Itau Unibanco Holding S.A. boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 47.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,476 shares of the credit-card processor's stock after acquiring an additional 2,097 shares during the quarter. Itau Unibanco Holding S.A.'s holdings in Visa were worth $2,270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Visa by 1.1% in 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 in the last quarter. Northern Trust Corp increased its stake in 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 purchasing an additional 726,299 shares in the last quarter. GAMMA Investing LLC increased its stake in 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 purchasing an additional 14,723,050 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Visa by 1.3% in 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 in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on V shares. Truist Financial dropped their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Oppenheimer lifted their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Morgan Stanley lifted their price target on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business'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 value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,127 shares of company stock valued at $28,340,553. 0.13% of the stock is owned by corporate insiders.

Visa Trading Down 0.1%

NYSE:V opened at $350.72 on Thursday. 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 Inc. has a fifty-two week low of $267.67 and a fifty-two week high of $375.51. The stock's 50-day moving average is $347.87 and its two-hundred day moving average is $347.44. The stock has a market cap of $642.80 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the business posted $2.42 EPS. The business's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

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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