Swiss National Bank boosted its position in shares of Visa Inc (NYSE:V) by 2.2% in the second quarter, Holdings Channel reports. The institutional investor owned 6,854,128 shares of the credit-card processor’s stock after acquiring an additional 147,600 shares during the period. Visa comprises approximately 1.0% of Swiss National Bank’s investment portfolio, making the stock its 9th biggest holding. Swiss National Bank’s holdings in Visa were worth $907,829,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in V. Bank of Montreal Can purchased a new stake in Visa during the second quarter valued at approximately $727,019,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Visa during the second quarter valued at approximately $268,605,000. Amundi Pioneer Asset Management Inc. raised its position in Visa by 53.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,929,346 shares of the credit-card processor’s stock valued at $470,029,000 after purchasing an additional 1,363,772 shares during the period. Gateway Investment Advisers LLC purchased a new stake in Visa during the second quarter valued at approximately $146,859,000. Finally, American Century Companies Inc. raised its position in Visa by 10.9% during the second quarter. American Century Companies Inc. now owns 11,098,080 shares of the credit-card processor’s stock valued at $1,469,941,000 after purchasing an additional 1,091,838 shares during the period. 80.18% of the stock is owned by institutional investors.
In related news, SVP James H. Hoffmeister sold 6,912 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.01, for a total value of $967,749.12. Following the transaction, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vasant M. Prabhu sold 25,064 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the transaction, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
A number of equities research analysts have issued reports on the company. Wells Fargo & Co upped their price objective on Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective on the stock in a research report on Tuesday, September 25th. BMO Capital Markets assumed coverage on Visa in a research report on Wednesday, September 26th. They set an “outperform” rating and a $187.00 price objective on the stock. Robert W. Baird upped their price objective on Visa from $156.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, September 14th. Finally, Bank of America restated a “buy” rating and set a $163.00 price objective on shares of Visa in a research report on Monday, September 17th. Two investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $153.97.
Shares of NYSE V opened at $140.06 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60. Visa Inc has a fifty-two week low of $106.60 and a fifty-two week high of $151.56. The company has a market capitalization of $305.32 billion, a PE ratio of 40.25, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06.
Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.11. Visa had a return on equity of 36.09% and a net margin of 47.91%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts anticipate that Visa Inc will post 4.59 earnings per share for the current year.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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