Visa Inc. $V Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in Visa Inc. (NYSE:V) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 939,308 shares of the credit-card processor’s stock after purchasing an additional 9,665 shares during the period. Canada Pension Plan Investment Board owned 0.05% of Visa worth $333,501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its holdings in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. raised its position in shares of Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Visa during the first quarter worth approximately $121,000. Finally, Boston Partners boosted its holdings in Visa by 0.9% in the first quarter. Boston Partners now owns 524,762 shares of the credit-card processor’s stock valued at $183,837,000 after purchasing an additional 4,639 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,117. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,042 shares of company stock worth $8,175,152 in the last three months. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research 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 report on Thursday. Macquarie cut their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $400.35.

Visa Price Performance

Shares of V opened at $346.89 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The firm has a 50-day simple moving average of $337.74 and a 200-day simple moving average of $345.39. The company has a market capitalization of $631.94 billion, a price-to-earnings ratio of 33.98, a price-to-earnings-growth ratio of 1.93 and a beta of 0.82.

Visa (NYSE:V) last posted its quarterly earnings data 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 return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the business earned $2.71 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

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

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.