Handelsbanken Fonder AB Sells 14,857 Shares of Visa Inc. (NYSE:V)

Handelsbanken Fonder AB cut its stake in shares of Visa Inc. (NYSE:V) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 623,998 shares of the credit-card processor’s stock after selling 14,857 shares during the quarter. Visa makes up approximately 0.9% of Handelsbanken Fonder AB’s holdings, making the stock its 17th biggest holding. Handelsbanken Fonder AB’s holdings in Visa were worth $218,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after buying an additional 1,689,926 shares during the period. Capital International Investors boosted its position in Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock valued at $7,526,660,000 after acquiring an additional 866,596 shares in the last quarter. Capital World Investors increased its holdings in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp raised its position in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.2%

Shares of V opened at $370.89 on Wednesday. The company has a market capitalization of $684.35 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $371.44. The stock’s 50-day moving average price is $346.49 and its 200-day moving average price is $336.52. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter last year, the company earned $2.51 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s payout ratio is 23.72%.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. Truist Financial assumed coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating and a $400.00 price objective on the stock. Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Evercore ISI began coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price for the company. Finally, UBS Group upped their price target on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $372.80.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 46,214 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,162 shares of company stock worth $58,645,479. Company insiders own 0.13% of the company’s stock.

Visa Profile

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.