Visa Inc. $V Holdings Decreased by State of Michigan Retirement System

State of Michigan Retirement System cut its position in shares of Visa Inc. (NYSE:V) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 594,223 shares of the credit-card processor’s stock after selling 5,800 shares during the quarter. Visa accounts for about 1.0% of State of Michigan Retirement System’s investment portfolio, making the stock its 17th largest holding. State of Michigan Retirement System’s holdings in Visa were worth $202,856,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sonoma Allocations LLC acquired a new stake in shares of Visa during the 3rd quarter worth approximately $710,000. AQR Capital Management LLC increased its position in Visa by 1.8% in the second quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after buying an additional 21,401 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its stake in Visa by 5.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after buying an additional 5,295 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Visa by 2.6% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock valued at $198,596,000 after buying an additional 14,581 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of Visa by 24.1% during the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock valued at $281,045,000 after acquiring an additional 159,906 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on V shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $395.00 price objective on shares of Visa in a report on Friday, January 30th. UBS Group restated a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. HSBC raised Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, TD Cowen reiterated a “buy” rating on shares of Visa in a research report on Friday, January 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa has a consensus rating of “Buy” and an average price target of $392.29.

Visa Stock Performance

V opened at $331.82 on Friday. The business has a 50 day moving average price of $338.50 and a two-hundred day moving average price of $340.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.08. The company has a market capitalization of $604.49 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 1.89 and a beta of 0.79. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the previous year, the business earned $2.75 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. Research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is 25.14%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. The trade was a 7.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.