Nordea Investment Management AB lowered its position in Visa Inc (NYSE:V) by 8.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,518,084 shares of the credit-card processor’s stock after selling 236,806 shares during the period. Nordea Investment Management AB’s holdings in Visa were worth $393,300,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its stake in Visa by 11,319.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 86,570,056 shares of the credit-card processor’s stock worth $656,000 after buying an additional 85,811,983 shares during the period. Lunia Capital LP increased its position in Visa by 13,370.7% during the 4th quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock valued at $23,454,000 after purchasing an additional 23,280,332 shares during the period. Matthew Goff Investment Advisor LLC increased its position in Visa by 13,144.9% during the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 7,929,067 shares of the credit-card processor’s stock valued at $59,865,000 after purchasing an additional 7,869,202 shares during the period. Capital Research Global Investors increased its position in Visa by 3,913.7% during the 3rd quarter. Capital Research Global Investors now owns 4,507,351 shares of the credit-card processor’s stock valued at $676,508,000 after purchasing an additional 4,395,051 shares during the period. Finally, Capital International Investors increased its position in Visa by 13.2% during the 3rd quarter. Capital International Investors now owns 13,149,230 shares of the credit-card processor’s stock valued at $1,973,568,000 after purchasing an additional 1,533,870 shares during the period. 80.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP William M. Sheedy sold 75,676 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $165.24, for a total transaction of $12,504,702.24. Following the transaction, the executive vice president now owns 300,114 shares of the company’s stock, valued at approximately $49,590,837.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. Visa had a net margin of 51.34% and a return on equity of 40.56%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. As a group, analysts forecast that Visa Inc will post 5.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Friday, May 17th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.59%. Visa’s payout ratio is 21.69%.
V has been the topic of a number of research reports. Deutsche Bank raised their target price on shares of Visa from $160.00 to $177.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Robert W. Baird set a $182.00 price target on shares of Visa and gave the company an “outperform” rating in a report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Friday, May 17th. Nomura raised their price target on shares of Visa from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets lifted their target price on shares of Visa to $214.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Visa presently has an average rating of “Buy” and an average target price of $178.17.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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