AMF Tjanstepension AB Has $430.10 Million Holdings in Visa Inc. $V

AMF Tjanstepension AB raised its stake in Visa Inc. (NYSE:V) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,423,049 shares of the credit-card processor’s stock after buying an additional 36,221 shares during the quarter. Visa accounts for about 2.9% of AMF Tjanstepension AB’s portfolio, making the stock its 11th largest position. AMF Tjanstepension AB’s holdings in Visa were worth $430,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted 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 worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Visa by 68.9% in 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 purchasing an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after purchasing an additional 477 shares during the period. Matrix Asset Advisors Inc. NY raised its holdings in Visa by 16.9% in the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after purchasing an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. boosted its position in shares of Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after purchasing an additional 2,230 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of recent analyst reports. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research report on Monday, July 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $450.00 target price on shares of Visa in a research note on Tuesday, June 2nd. Morgan Stanley restated an “overweight” rating and issued a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. BMO Capital Markets assumed coverage on Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target on the stock. Finally, Weiss Ratings upgraded Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 6th. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Buy” and an average target price of $397.91.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel owned 18,404 shares in the company, valued at $6,625,440. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 company’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 owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,581 shares of company stock worth $25,627,975 in the last quarter. Corporate insiders own 0.12% of the company’s stock.

Visa Price Performance

NYSE V opened at $349.05 on Monday. The firm’s 50 day moving average is $330.81 and its 200-day moving average is $324.86. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $626.12 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02.

Visa (NYSE:V) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter last year, the firm earned $2.76 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

Visa declared that its board has authorized a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

About Visa

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.