Ninety One UK Ltd Has $2.24 Billion Stake in Visa Inc. (NYSE:V)

Ninety One UK Ltd trimmed its position in shares of Visa Inc. (NYSE:V) by 9.8% during the fourth quarter, HoldingsChannel reports. The firm owned 7,085,841 shares of the credit-card processor’s stock after selling 770,462 shares during the quarter. Visa comprises 6.0% of Ninety One UK Ltd’s portfolio, making the stock its 2nd largest holding. Ninety One UK Ltd’s holdings in Visa were worth $2,239,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in V. International Assets Investment Management LLC lifted its holdings in Visa by 45,189.4% during the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. State Street Corp raised its position in shares of Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC lifted its holdings in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Visa during the 3rd quarter worth approximately $268,640,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on V shares. JPMorgan Chase & Co. upped their price target on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Susquehanna lifted their price target on Visa from $375.00 to $395.00 and gave the company a “positive” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods upped their price objective on Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group increased their price objective on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $354.73.

Visa Stock Performance

NYSE V opened at $347.28 on Friday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $351.25. The stock has a market cap of $646.94 billion, a PE ratio of 35.01, a P/E/G ratio of 2.30 and a beta of 0.97. The firm has a 50-day moving average of $319.76 and a 200-day moving average of $294.76. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.28 and a current ratio of 1.12.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, sell-side analysts anticipate that Visa Inc. will post 11.2 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $2,930,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,054,500. This represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,983 shares of company stock valued at $7,213,146. 0.13% of the stock is currently owned by corporate insiders.

About Visa

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.