Teacher Retirement System of Texas trimmed its position in Visa Inc. (NYSE:V - Free Report) by 7.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 492,062 shares of the credit-card processor's stock after selling 42,486 shares during the period. Visa accounts for approximately 0.7% of Teacher Retirement System of Texas' investment portfolio, making the stock its 18th biggest position. Teacher Retirement System of Texas' holdings in Visa were worth $172,448,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Sovereign Investment Advisors LLC acquired a new stake in Visa in the fourth quarter valued at $424,000. Brighton Jones LLC increased its holdings in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its holdings in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the period. Leverage Partners Absolute Return Fund SPC acquired a new stake in Visa in the fourth quarter valued at $204,000. Finally, SOA Wealth Advisors LLC. increased its holdings in Visa by 7.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 2,855 shares of the credit-card processor's stock valued at $902,000 after purchasing an additional 187 shares during the period. 82.15% of the stock is currently owned by institutional investors.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts recently weighed in on V shares. BMO Capital Markets increased their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Jefferies Financial Group increased their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Piper Sandler increased their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. Finally, Oppenheimer increased 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. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $372.84.
Read Our Latest Analysis on V
Visa Stock Down 0.6%
Shares of V traded down $2.21 during trading hours on Tuesday, hitting $354.43. The stock had a trading volume of 6,964,583 shares, compared to its average volume of 6,837,239. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a 50 day simple moving average of $356.43 and a 200-day simple moving average of $342.00. The firm has a market capitalization of $653.98 billion, a P/E ratio of 35.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92. 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 results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating 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 business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the firm earned $2.51 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 annualized dividend and a yield of 0.67%. Visa's payout ratio is 23.72%.
About Visa
(
Free Report)
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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