Visa Inc. $V Stock Holdings Decreased by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. decreased its stake in Visa Inc. by 8.5%, holding 107,659 shares worth approximately $38.2 million.
• Visa's recent earnings report showed an EPS of $2.98, surpassing estimates by $0.13, with a revenue of $10.17 billion—up 14.3% year-over-year.
• Insider selling activity included General Counsel Julie B. Rottenberg and CEO Ryan McInerney selling shares, with McInerney's ownership dropping by 95.13% following his recent sale.

LGT Fund Management Co Ltd. reduced its stake in Visa Inc. (NYSE:V - Free Report) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,659 shares of the credit-card processor's stock after selling 10,065 shares during the period. Visa makes up about 3.3% of LGT Fund Management Co Ltd.'s holdings, making the stock its 5th largest holding. LGT Fund Management Co Ltd.'s holdings in Visa were worth $38,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lakeridge Wealth Management LLC boosted its stake in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC raised its holdings in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. Finally, Yeomans Consulting Group Inc. grew its holdings in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after acquiring an additional 29 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE V opened at $349.21 on Tuesday. The stock has a market cap of $640.03 billion, a P/E ratio of 34.10, a P/E/G ratio of 2.07 and a beta of 0.90. Visa Inc. has a twelve month low of $273.24 and a twelve month high of $375.51. The stock has a 50 day moving average of $343.65 and a two-hundred day moving average of $346.89. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Insider Activity

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction 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 $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of analyst reports. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Barclays restated an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Morgan Stanley upped their price objective on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Macquarie increased their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Erste Group Bank cut Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $389.00.

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.

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