Canada Pension Plan Investment Board Has $306.55 Million Stock Holdings in Visa Inc. (NYSE:V)

Canada Pension Plan Investment Board boosted its holdings in shares of Visa Inc. (NYSE:V) by 11.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,167,929 shares of the credit-card processor’s stock after buying an additional 115,487 shares during the period. Canada Pension Plan Investment Board owned approximately 0.06% of Visa worth $306,546,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of V. Livelsberger Financial Advisory purchased a new stake in shares of Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa in the first quarter valued at about $25,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $285.25 on Friday. The firm has a 50 day moving average of $270.27 and a 200-day moving average of $273.46. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $293.07. The firm has a market capitalization of $519.81 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The business 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 quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $2.16 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

V has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group reduced their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Morgan Stanley reduced their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, TD Cowen reduced their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

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.