Visa Inc. (NYSE:V) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System grew its stake in Visa Inc. (NYSE:V) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 588,623 shares of the credit-card processor’s stock after purchasing an additional 6,300 shares during the period. Visa makes up approximately 0.9% of State of Michigan Retirement System’s portfolio, making the stock its 18th biggest holding. State of Michigan Retirement System’s holdings in Visa were worth $153,248,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of V. Princeton Global Asset Management LLC grew its holdings in Visa by 2.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 24,865 shares of the credit-card processor’s stock worth $6,474,000 after acquiring an additional 612 shares during the period. Holland Advisory Services Inc. acquired a new position in Visa during the fourth quarter worth $215,000. Werba Rubin Papier Wealth Management grew its holdings in Visa by 20.4% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 4,778 shares of the credit-card processor’s stock worth $1,244,000 after acquiring an additional 810 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Visa by 2.0% during the fourth quarter. First Citizens Bank & Trust Co. now owns 49,887 shares of the credit-card processor’s stock worth $12,988,000 after acquiring an additional 964 shares during the period. Finally, Prio Wealth Limited Partnership boosted its position in Visa by 1.4% during the fourth quarter. Prio Wealth Limited Partnership now owns 192,791 shares of the credit-card processor’s stock worth $50,193,000 after purchasing an additional 2,682 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. KeyCorp boosted their target price on Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, January 8th. Evercore ISI boosted their target price on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Wedbush upped their price objective on Visa from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Finally, Citigroup upped their price objective on Visa from $296.00 to $306.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $295.82.

Visa Stock Performance

Visa stock opened at $276.96 on Thursday. The stock’s 50-day moving average is $279.87 and its 200-day moving average is $259.82. The company has a market cap of $508.64 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96.

Visa (NYSE:V) last announced its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, beating the consensus estimate of $2.34 by $0.07. The business had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $2.18 EPS. Equities analysts anticipate that Visa Inc. will post 9.89 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is currently 23.94%.

Insider Activity at Visa

In related news, insider Rajat Taneja sold 36,546 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $62,716,662.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajat Taneja sold 36,546 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,511 shares of company stock worth $15,131,081. 0.19% of the stock is currently owned by company insiders.

About Visa

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.