Visa Inc. $V Shares Purchased by Clal Insurance Enterprises Holdings Ltd

Clal Insurance Enterprises Holdings Ltd increased its position in shares of Visa Inc. (NYSE:V) by 23.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 200,143 shares of the credit-card processor’s stock after buying an additional 37,959 shares during the quarter. Clal Insurance Enterprises Holdings Ltd’s holdings in Visa were worth $60,491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in V. Norges Bank purchased a new position in shares of Visa during the fourth quarter worth approximately $5,877,738,000. Cardano Risk Management B.V. raised its holdings in shares of Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after buying an additional 7,364,762 shares during the last quarter. Diamant Asset Management Inc. boosted its stake in shares of Visa by 29,706.3% during the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock worth $2,216,310,000 after buying an additional 7,308,345 shares during the period. J. Stern & Co. LLP boosted its stake in shares of Visa by 12,497.1% during the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after buying an additional 3,351,223 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Visa by 48.2% during the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock worth $2,282,472,000 after buying an additional 2,116,463 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,219,704.26. This trade represents a 40.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,581 shares of company stock worth $25,627,975 in the last quarter. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on V shares. Barclays assumed coverage on Visa in a research report on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. BMO Capital Markets restated an “outperform” rating and set a $387.00 price target (up from $375.00) on shares of Visa in a research note on Wednesday, July 15th. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Finally, Citigroup dropped their price objective on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Seven analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Buy” and a consensus target price of $398.36.

Visa Price Performance

Visa stock opened at $355.94 on Wednesday. The company has a market cap of $638.47 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 1.92 and a beta of 0.75. Visa Inc. has a one year low of $293.89 and a one year high of $365.14. The business has a fifty day moving average of $335.74 and a two-hundred day moving average of $325.08. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.76 EPS. As a group, analysts predict that Visa Inc. will post 13.13 earnings per share for the current fiscal year.

Visa announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 23.34%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.