Skandinaviska Enskilda Banken AB publ Sells 115,747 Shares of Visa Inc. $V

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Visa Inc. (NYSE:V) by 9.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,086,560 shares of the credit-card processor’s stock after selling 115,747 shares during the quarter. Visa accounts for 1.7% of Skandinaviska Enskilda Banken AB publ’s investment portfolio, making the stock its 8th biggest position. Skandinaviska Enskilda Banken AB publ’s holdings in Visa were worth $385,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the period. Capital & Planning LLC increased its stake in shares of Visa by 25.1% during the first quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock valued at $416,000 after acquiring an additional 238 shares during the period. Alpha Omega Group Inc. bought a new stake in Visa during the first quarter worth approximately $210,000. Finally, Davis R M Inc. lifted its position in Visa by 0.8% in the first quarter. Davis R M Inc. now owns 288,093 shares of the credit-card processor’s stock worth $100,965,000 after purchasing an additional 2,314 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

V has been the topic of several research analyst reports. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Macquarie cut their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on shares of Visa in a research report on Wednesday, October 29th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,042 shares of company stock valued at $8,175,152. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 0.1%

Shares of NYSE:V opened at $334.10 on Friday. The firm has a 50 day simple moving average of $339.82 and a 200 day simple moving average of $347.42. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $608.65 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 1.98 and a beta of 0.87.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 EPS. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is presently 26.25%.

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.