TIAA Trust National Association Sells 2,659 Shares of Visa Inc. (NYSE:V)

TIAA Trust National Association decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 196,911 shares of the credit-card processor's stock after selling 2,659 shares during the period. TIAA Trust National Association's holdings in Visa were worth $69,010,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Strategic Family Wealth Counselors L.L.C. lifted its holdings in shares of Visa by 2.1% in the 1st quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,433 shares of the credit-card processor's stock valued at $2,605,000 after acquiring an additional 150 shares during the last quarter. Pettyjohn Wood & White Inc. lifted its stake in Visa by 3.9% in the first quarter. Pettyjohn Wood & White Inc. now owns 6,646 shares of the credit-card processor's stock worth $2,329,000 after purchasing an additional 248 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in Visa by 154.4% in the first quarter. Baker Avenue Asset Management LP now owns 15,089 shares of the credit-card processor's stock worth $5,288,000 after purchasing an additional 9,157 shares during the last quarter. Hopwood Financial Services Inc. lifted its stake in Visa by 9.9% in the first quarter. Hopwood Financial Services Inc. now owns 535 shares of the credit-card processor's stock worth $187,000 after purchasing an additional 48 shares during the last quarter. Finally, Lindenwold Advisors INC lifted its stake in Visa by 83.3% in the first quarter. Lindenwold Advisors INC now owns 9,580 shares of the credit-card processor's stock worth $3,357,000 after purchasing an additional 4,354 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of V stock opened at $338.81 on Friday. The firm has a market cap of $625.16 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.30 and a beta of 0.94. The company's 50 day moving average is $355.06 and its 200 day moving average is $346.34. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $254.51 and a 52-week 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 the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $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 Dividend Announcement

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

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,913 shares of company stock worth $32,902,432. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on V. Evercore ISI began coverage on shares of Visa in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Morgan Stanley raised their price objective on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday. BMO Capital Markets raised their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average target price of $380.84.

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.

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