Handelsbanken Fonder AB Buys 2,275 Shares of Visa Inc. $V

Handelsbanken Fonder AB raised its stake in shares of Visa Inc. (NYSE:VFree Report) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 647,978 shares of the credit-card processor’s stock after purchasing an additional 2,275 shares during the period. Visa accounts for 0.7% of Handelsbanken Fonder AB’s holdings, making the stock its 19th biggest position. Handelsbanken Fonder AB’s holdings in Visa were worth $227,252,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Clayton Financial Group LLC grew its holdings in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares during the period. PayPay Securities Corp grew its holdings in Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. bought a new stake in Visa during the fourth quarter valued at about $26,000. Parvin Asset Management LLC grew its holdings in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management bought a new stake in Visa during the fourth quarter valued at about $30,000. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of Visa stock opened at $329.93 on Wednesday. The stock’s 50-day simple moving average is $311.72 and its 200-day simple moving average is $325.56. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $375.51. The company has a market capitalization of $591.83 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.78 and a beta of 0.78. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.76 earnings per share. As a group, analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Visa announced that its board has approved a share repurchase program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of Visa in a report on Wednesday, April 29th. Piper Sandler set a $160.00 price objective on Visa in a research report on Wednesday, January 28th. Weiss Ratings downgraded Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Loop Capital began coverage on Visa in a research report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price objective on the stock. Finally, Evercore set a $350.00 price objective on Visa in a research report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $387.67.

Check Out Our Latest Analysis on V

Insider Buying and Selling

In related news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 42,744 shares of company stock worth $14,356,010. Corporate insiders own 0.12% of the company’s stock.

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About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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