PGGM Investments Has $66.22 Million Stock Position in Visa Inc. $V

PGGM Investments lifted its position in Visa Inc. (NYSE:V) by 186.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 186,515 shares of the credit-card processor’s stock after buying an additional 121,398 shares during the quarter. PGGM Investments’ holdings in Visa were worth $66,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the 2nd quarter worth about $28,000. von Borstel & Associates Inc. acquired a new position in shares of Visa during the 1st quarter worth about $27,000. Cranbrook Wealth Management LLC lifted its position in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC lifted its holdings in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of research analyst reports. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Morgan Stanley upped their price objective on shares of Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $385.96.

Visa Stock Performance

NYSE:V opened at $345.97 on Friday. Visa Inc. has a 12-month low of $273.24 and a 12-month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $343.92 and a 200 day moving average price of $346.60. The firm has a market capitalization of $634.09 billion, a PE ratio of 33.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90.

Visa (NYSE:V) last issued 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. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same period in the prior year, the firm posted $2.42 EPS. Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal 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 given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

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.