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Prudential PLC Boosts Stake in Visa Inc. (NYSE:V)

Visa logo with Business Services background

Key Points

  • Prudential PLC increased its stake in Visa Inc. by 2.7% in Q1, now holding 196,268 shares valued at approximately $68.8 million, making it Visa's 21st largest shareholder.
  • Visa reported Q2 earnings of $2.98 per share, exceeding analysts' expectations of $2.85, with revenue of $10.17 billion, a 14.3% year-over-year increase.
  • The company declared a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7%, reinforcing Visa's commitment to returning value to its shareholders.
  • Need better tools to track Visa? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Prudential PLC raised its position in Visa Inc. (NYSE:V - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,268 shares of the credit-card processor's stock after buying an additional 5,236 shares during the period. Visa accounts for 0.3% of Prudential PLC's investment portfolio, making the stock its 21st biggest holding. Prudential PLC's holdings in Visa were worth $68,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new stake in Visa during the first quarter worth about $27,000. Measured Risk Portfolios Inc. purchased a new stake in Visa during the fourth quarter worth about $47,000. O Brien Wealth Partners LLC purchased a new stake in Visa during the first quarter worth about $54,000. Global X Japan Co. Ltd. purchased a new stake in Visa during the first quarter worth about $56,000. Finally, Cedar Mountain Advisors LLC increased its holdings in Visa by 28.5% during the first quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock worth $59,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Trading Down 0.3%

V stock opened at $335.94 on Tuesday. The company has a market capitalization of $615.70 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. Visa Inc. has a one year low of $258.74 and a one year high of $375.51. The company's 50 day moving average price is $352.21 and its two-hundred day moving average price is $347.30. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the firm posted $2.42 earnings per share. As a group, analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock worth $27,643,224 over the last three months. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price for the company. Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. UBS Group reiterated a "buy" rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Oppenheimer lifted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Get Our Latest Analysis on V

Visa Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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