BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Holdings in Visa Inc. (NYSE:V)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Visa Inc. (NYSE:V) by 31.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 591,236 shares of the credit-card processor’s stock after purchasing an additional 143,111 shares during the quarter. Visa accounts for 0.9% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 19th biggest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Visa were worth $155,182,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of V. Vanguard Group Inc. raised its holdings in shares of Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after buying an additional 788,908 shares during the period. Capital International Investors lifted its position in shares of Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors boosted its stake in shares of Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Visa by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock worth $2,317,162,000 after purchasing an additional 166,767 shares during the last quarter. Finally, Ninety One UK Ltd increased its stake in Visa by 0.7% in the 2nd quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor’s stock worth $2,065,103,000 after buying an additional 55,437 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

V has been the topic of a number of research analyst reports. William Blair upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Morgan Stanley dropped their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada decreased their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Trading Up 1.4 %

NYSE V opened at $288.62 on Tuesday. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The company has a fifty day simple moving average of $271.05 and a two-hundred day simple moving average of $273.47. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $527.86 billion, a P/E ratio of 32.25, a P/E/G ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. On average, analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. Visa’s dividend payout ratio is currently 23.24%.

Visa Company 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.