New York State Teachers Retirement System decreased its position in Visa Inc (NYSE:V) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,344,636 shares of the credit-card processor’s stock after selling 62,905 shares during the period. Visa accounts for approximately 0.7% of New York State Teachers Retirement System’s holdings, making the stock its 29th largest position. New York State Teachers Retirement System owned 0.14% of Visa worth $260,949,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Lombard Odier Transatlantic Limited Partnership boosted its position in Visa by 57.5% in the third quarter. Lombard Odier Transatlantic Limited Partnership now owns 1,260 shares of the credit-card processor’s stock worth $104,000 after buying an additional 460 shares during the period. Duncker Streett & Co. Inc. boosted its position in Visa by 3.8% in the third quarter. Duncker Streett & Co. Inc. now owns 1,683 shares of the credit-card processor’s stock worth $139,000 after buying an additional 62 shares during the period. Adirondack Trust Co. boosted its position in Visa by 20.3% in the third quarter. Adirondack Trust Co. now owns 2,160 shares of the credit-card processor’s stock worth $178,000 after buying an additional 365 shares during the period. FNY Partners Fund LP purchased a new position in Visa during the fourth quarter worth about $189,000. Finally, Taylor Cottrill Erickson & Associates Inc. purchased a new position in Visa during the third quarter worth about $203,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Shares of Visa Inc (NYSE:V) remained flat at $91.15 during trading on Friday. 19,414,307 shares of the company were exchanged. The stock’s 50-day moving average price is $89.22 and its 200-day moving average price is $83.76. Visa Inc has a one year low of $73.25 and a one year high of $92.80. The company has a market cap of $211.84 billion, a P/E ratio of 35.33 and a beta of 1.00. Visa also was the target of some unusual options trading activity on Thursday. Stock investors purchased 44,268 put options on the company. This is an increase of 625% compared to the average volume of 6,107 put options.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.07. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.29 billion. Visa had a net margin of 38.30% and a return on equity of 26.48%. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 EPS. On average, equities analysts predict that Visa Inc will post $3.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Friday, May 19th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, May 17th. Visa’s dividend payout ratio is presently 26.09%.
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V has been the subject of a number of research analyst reports. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $85.57 target price for the company in a research note on Monday, January 23rd. Stifel Nicolaus lowered their price target on shares of Visa from $105.00 to $93.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $93.00 target price on shares of Visa in a report on Friday, February 3rd. Loop Capital initiated coverage on shares of Visa in a research report on Tuesday, February 14th. They set a “buy” rating and a $98.00 price target on the stock. Finally, Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Tuesday, February 7th. Two equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Visa currently has an average rating of “Buy” and a consensus price target of $93.27.
In related news, EVP William M. Sheedy sold 125,372 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $85.74, for a total transaction of $10,749,395.28. Following the sale, the executive vice president now directly owns 365,769 shares of the company’s stock, valued at approximately $31,361,034.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 11,139 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $85.95, for a total transaction of $957,397.05. Following the sale, the senior vice president now directly owns 6,390 shares in the company, valued at $549,220.50. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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