Visa Inc. $V Shares Acquired by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System boosted its stake in Visa Inc. (NYSE:V) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,651,081 shares of the credit-card processor’s stock after purchasing an additional 19,192 shares during the period. Visa makes up 1.0% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 13th largest position. State Board of Administration of Florida Retirement System’s holdings in Visa were worth $586,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new position in shares of Visa in the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter worth $28,000. Harbor Asset Planning Inc. purchased a new position in Visa in the 2nd quarter valued at $29,000. Cranbrook Wealth Management LLC increased its stake in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the period. Finally, Hoese & Co LLP acquired a new position in Visa in the 2nd quarter valued at $36,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the sale, the director directly owned 2,468 shares in the company, valued at $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. The trade was a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,042 shares of company stock worth $8,175,152. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on V. KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. UBS Group set a $425.00 price target on shares of Visa and gave the stock a “buy” rating in a report on Wednesday, October 29th. Citigroup raised Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Barclays reiterated an “overweight” rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Stock Down 0.1%

V stock opened at $334.10 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $339.91 and its 200 day moving average price is $347.52. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a market cap of $608.65 billion, a P/E ratio of 32.72, a P/E/G ratio of 1.98 and a beta of 0.87.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the company posted $2.71 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is presently 26.25%.

Visa 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.