Visa Inc. $V Stock Holdings Trimmed by OLD National Bancorp IN

OLD National Bancorp IN reduced its position in Visa Inc. (NYSE:V) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,208 shares of the credit-card processor’s stock after selling 266 shares during the quarter. Visa makes up about 0.7% of OLD National Bancorp IN’s investment portfolio, making the stock its 19th biggest holding. OLD National Bancorp IN’s holdings in Visa were worth $40,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in Visa in the first quarter valued at approximately $3,518,533,000. Vanguard Group Inc. boosted its stake in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. Wellington Management Group LLP boosted its stake in Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares during the period. MUFG Securities EMEA plc acquired a new position in Visa in the first quarter valued at approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 valued at $5,003,569,000 after acquiring an additional 955,392 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on V shares. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 target price for the company. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Robert W. Baird set a $410.00 price objective on Visa and gave the stock an “outperform” rating in a research report on Monday. Finally, Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $389.00.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s 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 completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $697,328.54. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $351.96 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $343.65 and a 200-day simple moving average of $346.93. The company has a market cap of $645.06 billion, a PE ratio of 34.37, a P/E/G ratio of 2.07 and a beta of 0.90. Visa Inc. has a 12-month low of $274.01 and a 12-month high of $375.51.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

About Visa

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.