Visa Inc. $V Shares Sold by M&G PLC

M&G PLC lessened its stake in shares of Visa Inc. (NYSE:V) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 629,116 shares of the credit-card processor’s stock after selling 15,778 shares during the period. Visa makes up about 1.2% of M&G PLC’s portfolio, making the stock its 20th biggest position. M&G PLC’s holdings in Visa were worth $223,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor’s stock worth $159,523,000 after purchasing an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC boosted its holdings in Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor’s stock valued at $564,000 after acquiring an additional 111 shares during the period. Consilium Wealth Advisory LLC acquired a new position in shares of Visa in the second quarter valued at approximately $862,000. Iron Gate Global Advisors LLC raised its stake in shares of Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor’s stock valued at $22,040,000 after acquiring an additional 3,484 shares in the last quarter. Finally, NatWest Group plc raised its position in Visa by 43.8% in the 2nd quarter. NatWest Group plc now owns 45,660 shares of the credit-card processor’s stock valued at $16,212,000 after purchasing an additional 13,912 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on V shares. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Visa in a research report on Wednesday, October 22nd. Barclays reiterated an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie cut their price target on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Finally, Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Stock Up 0.0%

Shares of Visa stock opened at $339.00 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a fifty day moving average price of $342.72 and a 200 day moving average price of $348.78. The stock has a market cap of $621.32 billion, a price-to-earnings ratio of 33.20, a price-to-earnings-growth ratio of 2.05 and a beta of 0.87.

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

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is currently owned by corporate insiders.

Visa Profile

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.