Kentucky Retirement Systems increased its stake in Visa Inc. (NYSE:V - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 117,830 shares of the credit-card processor's stock after purchasing an additional 3,039 shares during the quarter. Visa comprises about 1.3% of Kentucky Retirement Systems' holdings, making the stock its 13th largest position. Kentucky Retirement Systems' holdings in Visa were worth $41,295,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Capital & Planning LLC grew its position in Visa by 21.2% during the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock worth $300,000 after buying an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC purchased a new position in Visa during the fourth quarter worth about $424,000. Brighton Jones LLC grew its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Visa during the fourth quarter worth about $202,074,000. Finally, Revolve Wealth Partners LLC grew its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Visa Stock Down 0.7%
NYSE V opened at $338.04 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $623.73 billion, a PE ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.94. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The business's 50-day moving average is $351.78 and its 200 day moving average is $338.94.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $2.51 earnings per share. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.70%. Visa's payout ratio is 23.72%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on V. UBS Group upped their price objective on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Citigroup began coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Evercore ISI began coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $372.80.
Read Our Latest Analysis on V
Insider Buying and Selling at Visa
In other Visa news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,098 shares of company stock valued at $36,738,526. 0.13% of the stock is currently owned by corporate insiders.
Visa Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).
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