Odyssean LLC Acquires New Holdings in Visa Inc. $V

Odyssean LLC bought a new position in Visa Inc. (NYSE:V) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,866 shares of the credit-card processor’s stock, valued at approximately $3,042,000.

A number of other large investors have also added to or reduced their stakes in V. XXEC Inc. lifted its holdings in shares of Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after buying an additional 186,138,883 shares during the period. Norges Bank bought a new stake in shares of Visa in the fourth quarter worth $5,877,738,000. Cardano Risk Management B.V. grew its holdings in shares of Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock worth $2,880,595,000 after acquiring an additional 7,364,762 shares during the period. Diamant Asset Management Inc. increased its position in Visa by 29,706.3% during the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock valued at $2,216,310,000 after acquiring an additional 7,308,345 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in Visa in the second quarter valued at about $1,435,262,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on V shares. BMO Capital Markets boosted their price target on Visa from $387.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Susquehanna reissued a “positive” rating and issued a $427.00 price objective (up from $410.00) on shares of Visa in a report on Wednesday, July 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $406.00 target price on shares of Visa in a report on Wednesday, July 29th. Citigroup reiterated a “buy” rating and issued a $440.00 price target (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $416.62.

Visa Stock Down 1.1%

V opened at $374.46 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $385.57. The firm’s fifty day moving average is $363.63 and its 200 day moving average is $333.27. The stock has a market cap of $668.20 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 2.03 and a beta of 0.76.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.Visa’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.98 EPS. On average, sell-side analysts forecast that Visa Inc. will post 13.16 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is 22.79%.

Insider Activity at Visa

In other Visa news, General Counsel Julie Rottenberg sold 2,028 shares of Visa stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,018,365.40. The trade was a 9.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of Visa stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 104,537 shares of company stock valued at $37,540,837. Corporate insiders own 0.12% of the company’s stock.

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.