Visa Inc. (NYSE:V) Shares Sold by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. cut its stake in Visa Inc. (NYSE:V - Free Report) by 66.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,710 shares of the credit-card processor's stock after selling 30,700 shares during the period. Great Lakes Retirement Inc.'s holdings in Visa were worth $5,506,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC lifted its position in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after buying an additional 1,689,926 shares in the last quarter. Capital International Investors grew its stake in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after buying an additional 866,596 shares during the period. Capital World Investors increased its position in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now owns 26,413 shares in the company, valued at approximately $8,991,249.33. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 140,448 shares of company stock valued at $50,133,659. 0.13% of the stock is owned by insiders.

Visa Stock Performance

Visa stock opened at $355.23 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a fifty day moving average price of $350.71 and a two-hundred day moving average price of $338.05. The company has a market cap of $655.46 billion, a PE ratio of 35.81, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the business earned $2.51 EPS. The firm's revenue was up 9.3% on a year-over-year basis. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa's payout ratio is 23.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on V. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Barclays reaffirmed an "overweight" rating on shares of Visa in a research report on Friday. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, Citigroup assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

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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