Prudential PLC Purchases 26,769 Shares of Visa Inc. (NYSE:V)

Prudential PLC lifted its holdings in Visa Inc. (NYSE:V) by 14.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 215,097 shares of the credit-card processor’s stock after buying an additional 26,769 shares during the period. Visa makes up approximately 0.4% of Prudential PLC’s portfolio, making the stock its 25th biggest holding. Prudential PLC’s holdings in Visa were worth $56,457,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares during the last quarter. Capital International Investors lifted its stake in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors grew its holdings in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Norges Bank bought a new position in shares of Visa during the 4th quarter worth $3,895,015,000. Finally, Fisher Asset Management LLC increased its stake in shares of Visa by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock worth $2,317,162,000 after purchasing an additional 166,767 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V opened at $280.21 on Monday. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The firm’s 50-day simple moving average is $266.53 and its two-hundred day simple moving average is $273.11. The stock has a market cap of $510.63 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. Analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s dividend payout ratio is currently 23.24%.

Analyst Ratings Changes

V has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Compass Point assumed coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Bank of America reiterated a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research note on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $309.54.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

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.