Aberdeen Group plc grew its position in Visa Inc. (NYSE:V - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,514,348 shares of the credit-card processor's stock after purchasing an additional 109,146 shares during the period. Visa makes up approximately 0.9% of Aberdeen Group plc's holdings, making the stock its 13th biggest position. Aberdeen Group plc owned 0.08% of Visa worth $534,747,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Northern Trust Corp grew its position in Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after purchasing an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after acquiring an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. Institutional investors own 82.15% of the company's stock.
Visa Stock Up 1.5%
Shares of NYSE:V opened at $348.39 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $638.53 billion, a PE ratio of 34.02, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90. Visa Inc. has a 52 week low of $278.35 and a 52 week high of $375.51. The firm has a 50 day simple moving average of $344.01 and a 200 day simple moving average of $346.98.
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, topping analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during 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 company's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 EPS. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on V shares. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an "outperform" rating in a report on Monday, October 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Visa in a report on Wednesday, October 8th. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Finally, Barclays reiterated an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.
View Our Latest Stock Analysis on V
Insiders Place Their Bets
In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's 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 transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.
About Visa
(
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.
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