Visa Inc. $V is Evelyn Partners Investment Management LLP’s 8th Largest Position

Evelyn Partners Investment Management LLP reduced its stake in shares of Visa Inc. (NYSE:V) by 2.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 351,875 shares of the credit-card processor’s stock after selling 10,181 shares during the period. Visa makes up approximately 2.9% of Evelyn Partners Investment Management LLP’s portfolio, making the stock its 8th largest position. Evelyn Partners Investment Management LLP’s holdings in Visa were worth $106,351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Visa by 0.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,897,420 shares of the credit-card processor’s stock valued at $573,472,000 after acquiring an additional 15,585 shares during the last quarter. Glen Eagle Advisors LLC increased its position in Visa by 4.3% during the 1st quarter. Glen Eagle Advisors LLC now owns 30,446 shares of the credit-card processor’s stock worth $9,202,000 after purchasing an additional 1,269 shares in the last quarter. Maverick Capital Ltd. raised its stake in Visa by 3.9% in the 1st quarter. Maverick Capital Ltd. now owns 806,951 shares of the credit-card processor’s stock valued at $243,893,000 after purchasing an additional 30,088 shares during the last quarter. Excelsior Advisor Network LLC raised its stake in Visa by 70.3% in the 1st quarter. Excelsior Advisor Network LLC now owns 1,838 shares of the credit-card processor’s stock valued at $555,000 after purchasing an additional 759 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Visa by 24.2% in the 1st quarter. Quantinno Capital Management LP now owns 890,097 shares of the credit-card processor’s stock valued at $269,023,000 after purchasing an additional 173,574 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 1.9%

V opened at $362.37 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $650.01 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75. The business has a 50-day moving average of $338.16 and a two-hundred day moving average of $325.18. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $365.14.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $2.76 EPS. On average, research analysts expect that Visa Inc. will post 13.12 earnings per share for the current year.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays assumed 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. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday, July 6th. BNP Paribas Exane upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 21st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $387.00 target price (up from $375.00) on shares of Visa in a research note on Wednesday, July 15th. Finally, Clear Str upgraded Visa to a “strong-buy” rating in a report on Thursday, July 16th. Eight equities research analysts have rated the stock with a Strong Buy rating and nineteen have assigned a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $399.41.

Insider Buying and Selling

In related news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% 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 the SEC website. Also, CEO Ryan Mcinerney sold 10,490 shares of the company’s 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 transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,219,704.26. This trade represents a 40.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 75,581 shares of company stock valued at $25,627,975. 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.