Canada Pension Plan Investment Board Has $325.80 Million Stock Holdings in Visa Inc. $V

Key Points

• Canada Pension Plan Investment Board reduced its stake in Visa Inc. by 19.3%, holding approximately $325.8 million worth of shares as of the end of the first quarter.
• Several analysts have raised their price targets for Visa, with Macquarie setting a new target of $425.00 and UBS Group increasing their target to $415.00, reflecting a strong outlook for the stock.
• Visa recently announced a quarterly dividend of $0.59 per share, to be paid to shareholders of record on August 12th, contributing to an annualized payout of $2.36.

Canada Pension Plan Investment Board decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 929,643 shares of the credit-card processor's stock after selling 222,363 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.05% of Visa worth $325,803,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Keystone Global Partners LLC acquired a new position in shares of Visa in the first quarter worth about $26,000. von Borstel & Associates Inc. bought a new stake in Visa in the first quarter valued at about $27,000. Measured Risk Portfolios Inc. bought a new stake in Visa in the fourth quarter valued at about $47,000. O Brien Wealth Partners LLC bought a new stake in Visa in the first quarter valued at about $54,000. Finally, Global X Japan Co. Ltd. bought a new stake in Visa in the first quarter valued at about $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,127 shares of company stock worth $28,340,553 over the last quarter. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 0.6%

Shares of V traded up $2.06 during mid-day trading on Friday, reaching $351.92. The company's stock had a trading volume of 3,670,969 shares, compared to its average volume of 6,106,106. The business has a fifty day moving average of $348.35 and a 200 day moving average of $347.42. The company has a market cap of $645.00 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. As a group, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio is presently 23.05%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on V. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $359.00 to $425.00 in a report on Thursday, June 5th. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average price target of $380.84.

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.