Public Sector Pension Investment Board Purchases 9,998 Shares of Visa Inc. (NYSE:V)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Visa Inc. by 1.4% during the first quarter, acquiring an additional 9,998 shares and now owning 736,751 shares worth approximately $258.2 million.
• A number of analysts upgraded Visa's stock ratings, with target prices ranging from $410.00 to $425.00, indicating strong market confidence in the company's future performance.
• Visa declared a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7%, scheduled for payment on September 2nd to stockholders of record as of August 12th.

Public Sector Pension Investment Board lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 736,751 shares of the credit-card processor's stock after purchasing an additional 9,998 shares during the period. Visa accounts for 1.1% of Public Sector Pension Investment Board's holdings, making the stock its 13th biggest holding. Public Sector Pension Investment Board's holdings in Visa were worth $258,202,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FWL Investment Management LLC boosted its holdings in shares of Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. lifted its position in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC boosted its holdings in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. raised its stake in Visa by 3.6% during the 4th quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after buying an additional 30 shares during the last quarter. Finally, Headinvest LLC raised its stake in Visa by 0.8% during the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after buying an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on V. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group restated a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock worth $27,643,224 in the last 90 days. Insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of V stock opened at $336.86 on Monday. The firm has a market cap of $617.39 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.25 and a beta of 0.94. Visa Inc. has a 52-week low of $258.74 and a 52-week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company's 50 day moving average is $352.79 and its 200 day moving average is $347.26.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.42 earnings per share. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's payout ratio is presently 23.05%.

Visa 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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