Teachers Retirement System of The State of Kentucky Increases Stake in Visa Inc. (NYSE:V)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 272,482 shares of the credit-card processor's stock after purchasing an additional 4,077 shares during the period. Visa makes up 0.9% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 11th biggest position. Teachers Retirement System of The State of Kentucky's holdings in Visa were worth $95,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lakeridge Wealth Management LLC increased its holdings in Visa by 5.7% during the 1st 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 in the last quarter. Blue Rock Wealth Management LLC acquired a new position in shares of Visa during the fourth quarter valued at $306,000. Aptus Capital Advisors LLC raised its position in Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after acquiring an additional 30,185 shares in the last quarter. Eagle Strategies LLC raised its holdings in Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after buying an additional 63 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in shares of Visa by 7.7% in the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock valued at $192,948,000 after purchasing an additional 43,546 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 0.8%

Shares of Visa stock traded up $2.92 during trading hours on Wednesday, hitting $354.78. The company's stock had a trading volume of 2,304,844 shares, compared to its average volume of 6,768,848. The company has a market capitalization of $654.62 billion, a PE ratio of 35.68, a P/E/G ratio of 2.37 and a beta of 0.92. The business has a fifty day moving average of $356.82 and a 200 day moving average of $344.02. 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 1-year low of $252.70 and a 1-year high of $375.51.

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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the previous year, the company posted $2.51 EPS. The business's revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued 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 0.67%. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

V has been the subject of a number of research analyst reports. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price for the company. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. 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, Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $375.52.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the 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 completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 in the last ninety days. 0.13% of the stock is owned by insiders.

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.