KBC Group NV Has $234.75 Million Stock Holdings in Visa Inc. $V

KBC Group NV decreased its stake in Visa Inc. (NYSE:VFree Report) by 41.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 776,705 shares of the credit-card processor’s stock after selling 544,935 shares during the quarter. Visa makes up about 0.6% of KBC Group NV’s holdings, making the stock its 24th biggest position. KBC Group NV’s holdings in Visa were worth $234,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Invariant Investment Management acquired a new stake in Visa in the 4th quarter worth approximately $969,000. Nixon Peabody Trust Co. boosted its position in Visa by 58.1% during the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after purchasing an additional 1,543 shares during the period. Vanguard Group Inc. grew its holdings in Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after purchasing an additional 1,054,343 shares during the last quarter. Savvy Advisors Inc. grew its holdings in Visa by 30.1% during the fourth quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock valued at $10,143,000 after purchasing an additional 6,688 shares during the last quarter. Finally, Wealth Enhancement Trust Services Inc. bought a new position in shares of Visa in the fourth quarter valued at approximately $15,966,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Key Visa News

Here are the key news stories impacting Visa this week:

Visa Stock Down 0.0%

Shares of V stock opened at $358.51 on Monday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $365.14. The firm has a market cap of $643.08 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.75. The stock has a 50 day moving average of $334.41 and a 200-day moving average of $324.99. 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 quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the prior year, the business earned $2.76 earnings per share. Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 13.11 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 23.34%.

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $415.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Raymond James Financial reiterated an “outperform” rating and issued a $389.00 target price on shares of Visa in a research note on Wednesday, April 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $450.00 target price on shares of Visa in a research report on Tuesday, June 2nd. Robert W. Baird set a $412.00 price target on shares of Visa and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, Clear Str upgraded shares of Visa to a “strong-buy” rating in a report on Thursday. Seven investment 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 stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Buy” and an average target price of $398.36.

Get Our Latest Analysis on V

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the sale, the chief executive officer directly owned 15,174 shares in the company, 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,581 shares of company stock worth $25,627,975 in the last ninety days. Insiders own 0.12% of the company’s stock.

Visa Profile

(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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