Prudential PLC increased its stake in shares of Visa Inc. (NYSE:V) by 1,179.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,437,408 shares of the credit-card processor’s stock after buying an additional 1,325,100 shares during the period. Prudential PLC owned approximately 0.06% of Visa worth $106,613,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new position in shares of Visa during the second quarter valued at approximately $411,431,000. Bank of Montreal Can acquired a new position in shares of Visa during the second quarter valued at approximately $262,163,000. Findlay Park Partners LLP increased its position in shares of Visa by 107.9% in the first quarter. Findlay Park Partners LLP now owns 5,154,970 shares of the credit-card processor’s stock valued at $394,252,000 after buying an additional 2,676,011 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Visa by 4,373.4% in the first quarter. Canada Pension Plan Investment Board now owns 1,713,844 shares of the credit-card processor’s stock valued at $131,075,000 after buying an additional 1,675,532 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of Visa during the first quarter valued at approximately $111,062,000. Institutional investors own 80.08% of the company’s stock.
Visa Inc. (NYSE:V) opened at 82.70 on Monday. Visa Inc. has a one year low of $66.12 and a one year high of $83.79. The company has a market capitalization of $195.17 billion, a PE ratio of 35.15 and a beta of 0.95. The stock’s 50 day moving average is $81.68 and its 200 day moving average is $78.74.
Visa (NYSE:V) last released its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.03. The firm had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Visa had a net margin of 38.72% and a return on equity of 22.36%. On average, analysts anticipate that Visa Inc. will post $2.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, August 17th. Visa’s payout ratio is 24.35%.
Several research analysts have issued reports on V shares. JPMorgan Chase & Co. raised Visa from a “not rated” rating to an “overweight” rating and set a $88.00 price objective on the stock in a report on Monday, June 6th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $83.88 price objective on the stock in a report on Monday, June 6th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $97.00 price objective on shares of Visa in a report on Thursday, June 9th. Oppenheimer Holdings Inc. upped their price objective on Visa from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, June 10th. Finally, Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Friday, June 24th. Four research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $88.54.
Visa Company Profile
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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