TIAA Trust National Association Raises Stake in Visa Inc. $V

TIAA Trust National Association grew its stake in shares of Visa Inc. (NYSE:V) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 205,089 shares of the credit-card processor’s stock after purchasing an additional 11,238 shares during the quarter. TIAA Trust National Association’s holdings in Visa were worth $71,927,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Montis Financial LLC boosted its stake in shares of Visa by 10.5% during the fourth quarter. Montis Financial LLC now owns 1,572 shares of the credit-card processor’s stock valued at $551,000 after purchasing an additional 150 shares during the period. Claret Asset Management Corp raised its holdings in shares of Visa by 1.5% in the fourth quarter. Claret Asset Management Corp now owns 3,756 shares of the credit-card processor’s stock valued at $1,317,000 after acquiring an additional 55 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Visa by 2.1% in the fourth quarter. Cerity Partners LLC now owns 1,133,134 shares of the credit-card processor’s stock valued at $397,375,000 after acquiring an additional 22,948 shares in the last quarter. Cantillon Capital Management LLC raised its holdings in shares of Visa by 0.8% in the fourth quarter. Cantillon Capital Management LLC now owns 1,949,488 shares of the credit-card processor’s stock valued at $683,705,000 after acquiring an additional 14,646 shares in the last quarter. Finally, Miramar Capital LLC raised its holdings in shares of Visa by 0.3% in the fourth quarter. Miramar Capital LLC now owns 41,798 shares of the credit-card processor’s stock valued at $14,659,000 after acquiring an additional 132 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE:V opened at $319.51 on Tuesday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $375.51. The company’s 50 day moving average is $316.81 and its 200 day moving average is $324.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market cap of $573.12 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 1.73 and a beta of 0.77.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter in the prior year, the company earned $2.76 EPS. Visa’s quarterly revenue was up 17.1% on a year-over-year basis. On average, sell-side analysts forecast that Visa Inc. will post 13.09 EPS for the current year.

Visa announced that its board has approved a stock buyback program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

Insiders Place Their Bets

In other Visa news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 42,744 shares of company stock worth $14,356,010. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on V. Citigroup decreased their price objective on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Evercore set a $350.00 price objective on Visa in a report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and issued a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. Finally, UBS Group increased their price target on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $387.78.

Visa 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.