Visa Inc (NYSE:V) is PM CAPITAL Ltd’s 5th Largest Position

PM CAPITAL Ltd reduced its stake in Visa Inc (NYSE:V) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 159,368 shares of the credit-card processor’s stock after selling 1,630 shares during the quarter. Visa makes up approximately 7.1% of PM CAPITAL Ltd’s investment portfolio, making the stock its 5th biggest position. PM CAPITAL Ltd’s holdings in Visa were worth $31,869,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Visa by 2.3% in the second quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock worth $24,393,195,000 after purchasing an additional 2,819,598 shares during the period. Capital International Investors lifted its stake in shares of Visa by 6.1% during the 1st quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock valued at $3,525,557,000 after buying an additional 1,250,002 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Visa by 3.2% in the 2nd quarter. Fisher Asset Management LLC now owns 20,979,235 shares of the credit-card processor’s stock worth $4,052,559,000 after buying an additional 660,147 shares during the period. Bank of New York Mellon Corp increased its stake in Visa by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,917,898 shares of the credit-card processor’s stock worth $3,268,029,000 after buying an additional 260,069 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Visa by 5.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock worth $3,128,020,000 after buying an additional 862,914 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

V has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on Visa from $196.00 to $203.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Jefferies Financial Group upped their price target on Visa from $185.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, October 2nd. Goldman Sachs Group assumed coverage on shares of Visa in a research report on Tuesday, July 14th. They set a “buy” rating and a $223.00 price objective on the stock. Mizuho restated a “buy” rating and set a $250.00 target price on shares of Visa in a research report on Thursday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Visa from $186.00 to $229.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $214.72.

In other Visa news, EVP Lynne Biggar sold 5,500 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $199.99, for a total value of $1,099,945.00. Following the sale, the executive vice president now owns 19,370 shares in the company, valued at $3,873,806.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rajat Taneja sold 45,036 shares of Visa stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total value of $9,457,560.00. Insiders sold a total of 118,122 shares of company stock worth $24,748,541 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

NYSE:V opened at $200.26 on Friday. The firm has a market capitalization of $388.98 billion, a PE ratio of 38.14, a PEG ratio of 3.05 and a beta of 0.90. The stock’s fifty day moving average is $203.88 and its 200 day moving average is $191.62. 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.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $4.85 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was down 18.6% on a year-over-year basis. Equities analysts forecast that Visa Inc will post 5.01 EPS for the current year.

Visa 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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