Andra AP fonden Grows Position in Visa Inc. $V

Andra AP fonden grew its holdings in shares of Visa Inc. (NYSE:V) by 9.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 226,974 shares of the credit-card processor’s stock after acquiring an additional 18,859 shares during the quarter. Visa comprises 0.9% of Andra AP fonden’s investment portfolio, making the stock its 15th largest position. Andra AP fonden’s holdings in Visa were worth $68,601,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of V. FOCUS Wealth Advisors LLC raised its holdings in shares of Visa by 0.4% during the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock valued at $2,704,000 after buying an additional 31 shares in the last quarter. Planned Solutions Inc. boosted its stake in shares of Visa by 2.0% in the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after purchasing an additional 31 shares in the last quarter. Frederick Financial Consultants LLC grew its holdings in shares of Visa by 2.0% during the 4th quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after purchasing an additional 31 shares during the last quarter. Spinnaker Investment Group LLC boosted its position in Visa by 3.0% during the fourth quarter. Spinnaker Investment Group LLC now owns 1,088 shares of the credit-card processor’s stock valued at $382,000 after buying an additional 32 shares during the period. Finally, Kuhn & Co Investment Counsel grew its stake in shares of Visa by 0.5% during the fourth quarter. Kuhn & Co Investment Counsel now owns 6,096 shares of the credit-card processor’s stock valued at $2,138,000 after buying an additional 32 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.7%

Shares of Visa stock opened at $361.25 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.14. The company has a market cap of $648.00 billion, a P/E ratio of 31.47, a PEG ratio of 1.91 and a beta of 0.75. The company’s fifty day simple moving average is $335.15 and its two-hundred day simple moving average is $325.05.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company posted $2.76 EPS. Research analysts anticipate that Visa Inc. will post 13.11 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed 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 was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.34%.

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

Analysts Set New Price Targets

V has been the subject of several analyst reports. Citigroup dropped their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Visa in a research note on Wednesday, April 29th. Piper Sandler assumed coverage on shares of Visa in a research note on Monday, June 29th. They issued an “overweight” rating and a $394.00 target price on the stock. Barclays started coverage on shares of Visa in a report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 price target for the company. Finally, Oppenheimer reissued an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Seven equities 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. Based on data from MarketBeat.com, Visa currently has an average rating of “Buy” and an average price target of $398.36.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of Visa stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. The trade was a 40.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following 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. 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. Insiders sold 75,581 shares of company stock worth $25,627,975 over the last three months. Company insiders own 0.12% of the company’s stock.

Visa Profile

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.