Itau Unibanco Holding S.A. Has $2.27 Million Position in Visa Inc. $V

Itau Unibanco Holding S.A. increased its stake in Visa Inc. (NYSE:V) by 47.9% in the 1st quarter, Holdings Channel reports. The firm owned 6,476 shares of the credit-card processor’s stock after purchasing an additional 2,097 shares during the period. Itau Unibanco Holding S.A.’s holdings in Visa were worth $2,270,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new stake in Visa in the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new stake in Visa in the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in Visa in the 4th quarter worth approximately $47,000. Navigoe LLC acquired a new stake in Visa in the 4th quarter worth approximately $53,000. Finally, O Brien Wealth Partners LLC acquired a new stake in Visa in the 1st quarter worth approximately $54,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE:V opened at $350.72 on Thursday. The business’s fifty day moving average price is $347.87 and its two-hundred day moving average price is $347.44. Visa Inc. has a fifty-two week low of $267.67 and a fifty-two week high of $375.51. The stock has a market capitalization of $642.80 billion, a price-to-earnings ratio of 34.25, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 earnings per share. As a group, analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa’s dividend payout ratio is presently 23.05%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,127 shares of company stock worth $28,340,553. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays reiterated an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. BMO Capital Markets increased their price objective on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Finally, Jefferies Financial Group increased their price objective on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $380.84.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.