Handelsbanken Fonder AB Acquires 2,369 Shares of Visa Inc. $V

Handelsbanken Fonder AB raised its holdings in shares of Visa Inc. (NYSE:V) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 649,345 shares of the credit-card processor’s stock after acquiring an additional 2,369 shares during the quarter. Visa makes up 0.6% of Handelsbanken Fonder AB’s portfolio, making the stock its 28th largest holding. Handelsbanken Fonder AB’s holdings in Visa were worth $222,784,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in Visa in the 4th quarter worth $5,877,738,000. Cardano Risk Management B.V. grew its holdings in Visa by 867.6% during 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 purchasing an additional 7,364,762 shares during the period. Diamant Asset Management Inc. grew its holdings in 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 valued at $2,216,310,000 after purchasing an additional 7,308,345 shares during the period. J. Stern & Co. LLP increased its position in Visa by 12,497.1% in 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 in the last quarter. Finally, Victory Capital Management Inc. increased its position in Visa by 48.2% in 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 in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several recent research reports. Clear Str raised Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Robert W. Baird boosted their price objective on Visa from $412.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $412.00 target price (up from $395.00) on shares of Visa in a report on Wednesday, July 29th. BNP Paribas Exane upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Evercore set a $350.00 target price on shares of Visa in a research note on Wednesday, April 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company. According to MarketBeat.com, Visa has a consensus rating of “Buy” and an average price target of $413.58.

Visa Stock Down 0.5%

Shares of V opened at $360.67 on Tuesday. The business’s 50 day moving average is $345.87 and its 200 day moving average is $327.28. The company has a market capitalization of $643.59 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.94 and a beta of 0.74. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $373.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company had revenue of $11.63 billion for the quarter, compared to analysts’ expectations of $11.40 billion. During the same period in the previous year, the firm earned $2.98 EPS. The firm’s revenue was up 14.4% compared to the same quarter last year. Research analysts expect that Visa Inc. will post 13.14 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s payout ratio is 22.79%.

Visa declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Visa

In related news, insider Tullier Kelly Mahon sold 57,272 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the transaction, the insider owned 49,662 shares in the company, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 90,759 shares of company stock valued at $32,375,779. 0.12% of the stock is currently owned by corporate insiders.

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.