State of Alaska Department of Revenue Purchases 4,815 Shares of Visa Inc. (NYSE:V)

State of Alaska Department of Revenue boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 201,870 shares of the credit-card processor's stock after buying an additional 4,815 shares during the quarter. Visa makes up approximately 0.8% of State of Alaska Department of Revenue's holdings, making the stock its 15th largest holding. State of Alaska Department of Revenue's holdings in Visa were worth $70,747,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of V. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter valued at $27,000. Compass Planning Associates Inc acquired a new position in shares of Visa in the 4th quarter valued at $32,000. NewSquare Capital LLC acquired a new position in shares of Visa in the 4th quarter valued at $35,000. FPC Investment Advisory Inc. lifted its stake in shares of Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after purchasing an additional 83 shares during the period. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Visa in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

V stock traded down $2.34 during mid-day trading on Friday, hitting $338.04. 19,326,861 shares of the company were exchanged, compared to its average volume of 7,073,546. The business has a 50 day simple moving average of $351.69 and a 200-day simple moving average of $338.37. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $623.73 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the business earned $2.51 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. Visa's payout ratio is 23.72%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on V. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. UBS Group increased their target price on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. BMO Capital Markets increased their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Jefferies Financial Group increased their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction 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 owns 537 shares of the company's stock, valued at $185,576.46. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock valued at $36,738,526 over the last three months. 0.13% of the stock is owned by 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.