Handelsbanken Fonder AB Invests $75.57 Million in Visa Inc (NYSE:V)

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Handelsbanken Fonder AB purchased a new stake in Visa Inc (NYSE:V) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 391,213 shares of the credit-card processor’s stock, valued at approximately $75,571,000. Visa comprises about 0.6% of Handelsbanken Fonder AB’s investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds have also added to or reduced their stakes in V. Emerald Advisors LLC increased its holdings in shares of Visa by 2.1% in the 2nd quarter. Emerald Advisors LLC now owns 2,428 shares of the credit-card processor’s stock valued at $469,000 after purchasing an additional 51 shares in the last quarter. BEAM Asset Management LLC grew its stake in Visa by 2.0% in the 2nd quarter. BEAM Asset Management LLC now owns 2,654 shares of the credit-card processor’s stock valued at $525,000 after acquiring an additional 52 shares during the last quarter. Perennial Investment Advisors LLC boosted its stake in shares of Visa by 2.6% during the 2nd quarter. Perennial Investment Advisors LLC now owns 2,023 shares of the credit-card processor’s stock worth $391,000 after purchasing an additional 52 shares during the last quarter. Trellis Advisors LLC boosted its position in Visa by 2.2% during the second quarter. Trellis Advisors LLC now owns 2,419 shares of the credit-card processor’s stock worth $467,000 after acquiring an additional 52 shares during the last quarter. Finally, Atlas Private Wealth Management raised its holdings in Visa by 0.6% in the 2nd quarter. Atlas Private Wealth Management now owns 9,459 shares of the credit-card processor’s stock valued at $1,827,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $212.00, for a total transaction of $1,484,000.00. Following the completion of the sale, the chief executive officer now directly owns 127,090 shares in the company, valued at $26,943,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rajat Taneja sold 45,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total transaction of $9,457,560.00. Insiders have sold 118,122 shares of company stock worth $24,683,231 in the last quarter. Company insiders own 0.19% of the company’s stock.

Shares of NYSE V remained flat at $$204.98 during mid-day trading on Tuesday. 291,461 shares of the company were exchanged, compared to its average volume of 10,546,271. Visa Inc has a fifty-two week low of $133.93 and a fifty-two week high of $217.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $398.15 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 3.05 and a beta of 0.90. The company has a fifty day moving average of $201.49 and a two-hundred day moving average of $186.63.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the business earned $1.37 earnings per share. The business’s revenue for the quarter was down 18.6% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc will post 5.01 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.59%. Visa’s dividend payout ratio is presently 22.06%.

V has been the subject of a number of research analyst reports. Daiwa Capital Markets restated a “neutral” rating and set a $204.00 price objective on shares of Visa in a report on Tuesday, July 21st. Citigroup upped their price objective on shares of Visa from $205.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Royal Bank of Canada reissued a “buy” rating and issued a $243.00 price objective on shares of Visa in a research report on Sunday. SunTrust Banks upped their price objective on shares of Visa from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. Finally, Cowen upped their price objective on shares of Visa from $189.00 to $196.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $213.34.

Visa Company Profile

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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