M&G Investment Management Ltd. Sells 287,539 Shares of Visa Inc (NYSE:V)

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M&G Investment Management Ltd. lessened its stake in shares of Visa Inc (NYSE:V) by 16.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,492,863 shares of the credit-card processor’s stock after selling 287,539 shares during the period. Visa accounts for about 3.0% of M&G Investment Management Ltd.’s portfolio, making the stock its 4th largest position. M&G Investment Management Ltd. owned approximately 0.08% of Visa worth $298,573,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Visa by 2.3% during the 2nd quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock valued at $24,393,195,000 after acquiring an additional 2,819,598 shares during the period. Fisher Asset Management LLC increased its stake in Visa by 3.2% during the 2nd quarter. Fisher Asset Management LLC now owns 20,979,235 shares of the credit-card processor’s stock valued at $4,052,559,000 after purchasing an additional 660,147 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Visa by 1.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,917,898 shares of the credit-card processor’s stock valued at $3,268,029,000 after purchasing an additional 260,069 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Visa by 5.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock valued at $3,128,020,000 after purchasing an additional 862,914 shares in the last quarter. Finally, Swiss National Bank increased its stake in Visa by 0.8% during the 2nd quarter. Swiss National Bank now owns 7,448,494 shares of the credit-card processor’s stock valued at $1,438,826,000 after purchasing an additional 62,100 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 research reports. Wells Fargo & Company decreased their price target on shares of Visa from $230.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday. Daiwa Capital Markets restated a “neutral” rating and set a $204.00 price target on shares of Visa in a research note on Tuesday, July 21st. Raymond James decreased their price target on shares of Visa from $217.00 to $211.00 and set an “outperform” rating for the company in a research note on Thursday. KeyCorp upped their target price on shares of Visa from $215.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, September 21st. Finally, Jefferies Financial Group upped their target price on shares of Visa from $185.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, October 2nd. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Visa presently has a consensus rating of “Buy” and a consensus target price of $216.79.

NYSE V opened at $184.87 on Friday. The company has a market cap of $359.09 billion, a PE ratio of 35.21, a price-to-earnings-growth ratio of 2.59 and a beta of 0.91. Visa Inc has a 52 week low of $133.93 and a 52 week high of $217.35. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The firm’s 50-day simple moving average is $200.32 and its two-hundred day simple moving average is $193.80.

Visa (NYSE:V) last released its quarterly earnings data on Wednesday, October 28th. The credit-card processor reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.03. Visa had a net margin of 51.37% and a return on equity of 40.65%. As a group, equities research analysts anticipate that Visa Inc will post 5.01 EPS for the current year.

In other news, Director Lloyd Carney sold 1,550 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $192.64, for a total value of $298,592.00. Following the sale, the director now directly owns 2,962 shares of the company’s stock, valued at $570,599.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rajat Taneja sold 45,036 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $210.00, for a total transaction of $9,457,560.00. Over the last ninety days, insiders have sold 111,122 shares of company stock worth $23,383,541. Insiders own 0.19% of the company’s stock.

Visa Company 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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