BlackRock Advisors LLC cut its stake in Visa Inc. (NYSE:V) by 6.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,027,621 shares of the credit-card processor’s stock after selling 455,936 shares during the period. BlackRock Advisors LLC owned 0.30% of Visa worth $521,239,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Emerald Acquisition Ltd. bought a new position in shares of Visa during the second quarter worth about $411,431,000. Bank of Montreal Can bought a new stake in shares of Visa during the second quarter valued at approximately $262,163,000. Findlay Park Partners LLP raised its stake 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 in the last quarter. Canada Pension Plan Investment Board raised its stake 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 in the last quarter. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Visa during the first quarter valued at approximately $111,062,000. Institutional investors own 80.08% of the company’s stock.
Shares of Visa Inc. (NYSE:V) opened at 82.73 on Wednesday. The company has a market capitalization of $195.24 billion, a PE ratio of 35.16 and a beta of 0.95. The firm’s 50-day moving average price is $81.81 and its 200 day moving average price is $78.97. Visa Inc. has a one year low of $66.12 and a one year high of $83.79.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, topping the 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 return on equity of 22.36% and a net margin of 38.72%. Analysts anticipate that Visa Inc. will post $2.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Friday, August 19th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Wednesday, August 17th. Visa’s dividend payout ratio (DPR) is currently 24.35%.
Several research firms recently commented on V. Deutsche Bank AG restated a “buy” rating and set a $87.00 price target on shares of Visa in a report on Tuesday, September 6th. Barclays PLC raised their price target on shares of Visa from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, September 12th. Pacific Crest set a $92.00 price objective on shares of Visa and gave the company a “buy” rating in a research report on Wednesday, September 14th. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Tuesday, July 19th. Finally, Vetr lowered shares of Visa from a “strong-buy” rating to a “buy” rating and set a $84.21 price target on the stock. in a research report on Monday, July 11th. Four research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $88.69.
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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