Kentucky Retirement Systems Insurance Trust Fund Has $17.59 Million Stock Position in Visa Inc. (NYSE:V)

Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 178.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,187 shares of the credit-card processor's stock after buying an additional 32,153 shares during the period. Visa makes up approximately 1.3% of Kentucky Retirement Systems Insurance Trust Fund's investment portfolio, making the stock its 13th largest position. Kentucky Retirement Systems Insurance Trust Fund's holdings in Visa were worth $17,589,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors boosted its stake in shares of Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after purchasing an additional 866,596 shares in the last quarter. Capital World Investors boosted its stake in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V stock opened at $338.04 on Monday. The firm has a market cap of $623.73 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company's fifty day simple moving average is $351.78 and its 200 day simple moving average is $338.94.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.51 EPS. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 company insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of research analyst reports. BMO Capital Markets raised their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Truist Financial started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective on the stock. Macquarie cut their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Evercore ISI started coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Finally, William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.

Visa Company 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.

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