Tredje AP fonden Decreases Position in Visa Inc. (NYSE:V)

Tredje AP fonden lessened its position in shares of Visa Inc. (NYSE:V) by 13.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 346,858 shares of the credit-card processor’s stock after selling 51,931 shares during the quarter. Visa comprises 1.1% of Tredje AP fonden’s investment portfolio, making the stock its 19th biggest holding. Tredje AP fonden’s holdings in Visa were worth $121,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lakeridge Wealth Management LLC boosted its holdings in 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 purchasing an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC purchased a new position in Visa during the 4th quarter valued at about $306,000. Aptus Capital Advisors LLC increased its stake in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after purchasing an additional 30,185 shares in the last quarter. Eagle Strategies LLC raised its holdings in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after acquiring an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in shares of Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock valued at $192,948,000 after acquiring an additional 43,546 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on V shares. BMO Capital Markets increased their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Evercore ISI started coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price for the company. Macquarie decreased their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $375.52.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by insiders.

Visa Trading Down 1.0%

Visa stock opened at $351.92 on Wednesday. Visa Inc. has a 52-week low of $254.51 and a 52-week high of $375.51. The firm has a market capitalization of $649.35 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 2.40 and a beta of 0.92. The firm has a 50-day moving average price of $355.76 and a two-hundred day moving average price of $345.83. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 EPS. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s dividend payout ratio is presently 23.72%.

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.