Visa Inc. $V Shares Acquired by Ninety One UK Ltd

Ninety One UK Ltd boosted its holdings in Visa Inc. (NYSE:V) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,252,245 shares of the credit-card processor’s stock after acquiring an additional 12,197 shares during the period. Visa accounts for about 4.7% of Ninety One UK Ltd’s investment portfolio, making the stock its 4th largest position. Ninety One UK Ltd’s holdings in Visa were worth $2,134,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Family Legacy Financial Solutions LLC purchased a new stake in Visa in the 2nd quarter valued at approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa in the second quarter valued at $29,000. Sagard Holdings Management Inc. acquired a new stake in shares of Visa during the second quarter valued at $31,000. Cranbrook Wealth Management LLC increased its position in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Bare Financial Services Inc boosted its stake in shares of Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective on the stock in a research note on Thursday, December 11th. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price objective (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. KeyCorp reiterated an “overweight” rating and set a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Evercore ISI set a $380.00 price target on Visa in a research note on Friday, December 12th. Finally, HSBC raised shares of Visa from a “hold” rating to a “buy” rating and upped their price objective for the company from $335.00 to $389.00 in a research note on Sunday, December 7th. Five investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $402.52.

Visa Stock Performance

NYSE V opened at $346.52 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The firm has a market capitalization of $631.26 billion, a P/E ratio of 33.94, a P/E/G ratio of 2.06 and a beta of 0.82. The business’s 50-day simple moving average is $339.15 and its 200-day simple moving average is $343.86.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the firm posted $2.71 earnings per share. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were given a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio is currently 26.25%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. The trade was a 26.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,557 shares of company stock worth $4,586,137. Corporate 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.