State of Alaska Department of Revenue Trims Stock Holdings in Visa Inc. $V

Key Points

• The State of Alaska Department of Revenue reduced its Visa Inc. holdings by 4.7% in the second quarter, now owning 192,307 shares valued at approximately $68.28 million.
• Several other large investors, including Lakeridge Wealth Management and Fjarde AP Fonden, have increased their stakes in Visa, reflecting growing institutional interest in the stock.
• Visa reported a quarterly earnings per share of $2.98, exceeding expectations, while also announcing a quarterly dividend of $0.59 per share.

State of Alaska Department of Revenue decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,307 shares of the credit-card processor's stock after selling 9,563 shares during the period. Visa accounts for about 0.7% of State of Alaska Department of Revenue's holdings, making the stock its 15th biggest position. State of Alaska Department of Revenue's holdings in Visa were worth $68,278,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of V. Lakeridge Wealth Management LLC boosted its position in shares of Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after acquiring an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after acquiring an additional 57,800 shares during the period. Iron Gate Global Advisors LLC boosted its position in shares of Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after acquiring an additional 3,484 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the period. Finally, Yeomans Consulting Group Inc. boosted its position in shares of Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Morgan Stanley lifted their target price on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Finally, Barclays reissued an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Stock Up 0.7%

Shares of Visa stock opened at $337.15 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company's fifty day simple moving average is $344.65 and its two-hundred day simple moving average is $346.48. The company has a market cap of $617.93 billion, a P/E ratio of 32.92, a PEG ratio of 2.24 and a beta of 0.92. Visa Inc. has a 12-month low of $272.78 and a 12-month high of $375.51.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.42 EPS. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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