BlackRock Fund Advisors recently announced the acquisition of new stake in Visa Inc. (NYSE:V). The institutional investor has increased its shareholding in the Financial company by 3.05% to 79.43 million shares with purchase of 2.35 million shares. This fresh investment now brings its stake to 4.94% valued currently at $18.88 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 1.24 million to 74.13 million shares. And Geode Capital Management LLC has lifted its position by 3.16% or 1.02 million shares – to 33.24 million shares.
With over 3.5 million Visa Inc. (V) shares trading Tuesday and a closing price of $247.30 on the day, the dollar volume was approximately $865.2 million. The shares have shown a positive half year performance of 15.31% and its price on 09/12/23 gained nearly 0.03%. Currently, there are 2.04B common shares owned by the public and among those 1.59B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 38 analysts who have offered their price forecasts for V have a consensus price objective of $280.02. The analysts have set the share’s price value over the next 12 months at a high of $336.00 and a low of $220.00. The average price target is 11.16% above its recent price level and a downside to the estimated low will see the stock lose -12.41% over that period. But an upside of 26.4% will see the stock hit the forecast high price target while median target price for the stock is $280.00.
Insiders at the company have transacted a total of 97 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 61 of these insider trades were purchases, accounting for 600,809 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 605,849 shares.
The top 3 mutual fund holders in Visa Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund. Vanguard Total Stock Market ETF owns 49.98 million shares of the company’s stock, all valued at over $11.88 billion. The company sold -0.25 million shares recently to bring their total holdings to about 3.11% of the shares outstanding. Vanguard 500 Index Fund bought 0.23 million shares to see its total holdings expand to 38.51 million shares valued at over $9.15 billion and representing 2.40% of the shares outstanding. Fidelity 500 Index Fund bought 0.12 million shares to bring its total holdings to over 18.39 million shares at a value of $4.37 billion. Fidelity 500 Index Fund now owns shares totaling to 1.15% of the shares outstanding.
Shares of Visa Inc. (NYSE: V) opened at $246.94, down -$0.28 from a prior closing price of $247.22. However, the script later moved the day high at 247.76, up 0.03%. The company’s stock has a 5-day price change of 0.80% and 9.34% over the past three months. V shares are trading 19.03% year to date (YTD), with the 12-month market performance up to 20.52% higher. It has a 12-month low price of $174.60 and touched a high of $248.87 over the same period. V has an average intraday trading volume of 5.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.68%, 2.64%, and 8.78% respectively.
Institutional ownership of Visa Inc. (NYSE: V) shares accounts for 98.90% of the company’s 2.04B shares outstanding. Mutual fund holders own 47.11%, while other institutional holders and individual stakeholders account for 50.55% and 0.23% respectively.
It has a market capitalization of $503.04B and a beta (3y monthly) value of 0.95. The stock’s trailing 12-month PE ratio is 31.37, while the earnings-per-share (ttm) stands at $7.88. The company has a PEG of 2.15 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.55. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.84% over the week and 1.18% over the month.
Analysts forecast that Visa Inc. (V) will achieve an EPS of $2.25 for the current quarter, $2.39 for the next quarter and $9.85 for 2024. The lowest estimate earnings-per-share for the quarter is $2.17 while analysts give the company a high EPS estimate of $2.31. Comparatively, EPS for the current quarter was $1.93 a year ago. Earnings per share for the fiscal year are expected to increase by 24.50%, and 13.57% over the next financial year. EPS should shrink at an annualized rate of 14.59% over the next five years, compared to 20.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 38 brokerage firm advisors rate Visa Inc. (V) as a “Strong Buy” at a consensus score of 1.80. Specifically, 28 Wall Street analysts polled rate the stock as a buy, while 4 of the 38 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the V, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on July 19, 2023, with the firm’s price target at $270-$280.
