KBC Group NV Sells 544,935 Shares of Visa Inc. $V

KBC Group NV decreased its holdings in Visa Inc. (NYSE:VFree Report) by 41.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 776,705 shares of the credit-card processor’s stock after selling 544,935 shares during the period. Visa makes up 0.6% of KBC Group NV’s portfolio, making the stock its 24th biggest position. KBC Group NV’s holdings in Visa were worth $234,751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Clayton Financial Group LLC increased its stake in Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp raised its position in Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. bought a new position in Visa during the fourth quarter worth about $26,000. Parvin Asset Management LLC lifted its stake in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management acquired a new stake in Visa during the fourth quarter valued at approximately $30,000. 82.15% of the stock is owned by institutional investors.

Trending Headlines about Visa

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Visa Price Performance

NYSE:V opened at $358.51 on Monday. The firm has a market cap of $643.08 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.75. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $365.14. 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’s 50-day moving average price is $334.41 and its two-hundred day moving average price is $324.99.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for 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 in the prior year, the firm earned $2.76 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 13.11 EPS for the current fiscal year.

Visa declared that its board has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 23.34%.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents 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 valued at $25,627,975 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on V. UBS Group upped their price objective on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. BMO Capital Markets restated an “outperform” rating and set a $387.00 target price (up from $375.00) on shares of Visa in a research report on Wednesday. Weiss Ratings raised Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 6th. Robert W. Baird set a $412.00 price target on Visa and gave the company an “outperform” rating in a research report on Monday, July 6th. Finally, Barclays assumed coverage on Visa in a research report on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price target on the stock. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $398.36.

Check Out Our Latest Report on Visa

Visa Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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