State Street Corp Sells 737,625 Shares of Visa Inc. $V

State Street Corp cut its holdings in shares of Visa Inc. (NYSE:V) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,014,263 shares of the credit-card processor’s stock after selling 737,625 shares during the quarter. Visa comprises 1.1% of State Street Corp’s portfolio, making the stock its 12th biggest holding. State Street Corp’s holdings in Visa were worth $29,119,164,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Visa by 0.9% during the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after buying an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC raised its stake in Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Norges Bank bought a new stake in Visa during the second quarter worth about $7,034,939,000. Northern Trust Corp lifted its position in Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after purchasing an additional 726,299 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Visa by 7.2% during the 1st 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 worth $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V opened at $326.21 on Tuesday. The business’s fifty day moving average is $338.47 and its 200 day moving average is $345.71. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a market cap of $594.27 billion, a P/E ratio of 31.95, a P/E/G ratio of 1.96 and a beta of 0.82.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the company earned $2.71 earnings per share. The business’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Wednesday, November 12th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is currently 26.25%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% 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 this link. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,042 shares of company stock worth $8,175,152. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Robert W. Baird set a $425.00 price target on Visa in a report on Wednesday, October 29th. Macquarie dropped their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. KeyCorp restated an “overweight” rating and issued a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $399.52.

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.