Visa Inc (V) Position Lessened by State of New Jersey Common Pension Fund D
State of New Jersey Common Pension Fund D trimmed its holdings in shares of Visa Inc (NYSE:V) by 5.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,488,000 shares of the credit-card processor’s stock after selling 152,000 shares during the quarter. Visa accounts for approximately 1.0% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 13th biggest position. State of New Jersey Common Pension Fund D owned about 0.11% of Visa worth $261,837,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of V. Karp Capital Management Corp grew its position in Visa by 3,256.5% in the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock valued at $86,248,000 after acquiring an additional 941,581 shares in the last quarter. First Foundation Advisors acquired a new position in Visa in the 1st quarter valued at about $690,000. Smith Salley & Associates grew its position in Visa by 1.0% in the 1st quarter. Smith Salley & Associates now owns 63,992 shares of the credit-card processor’s stock valued at $5,686,000 after acquiring an additional 623 shares in the last quarter. Sei Investments Co. grew its position in Visa by 2.0% in the 1st quarter. Sei Investments Co. now owns 3,204,714 shares of the credit-card processor’s stock valued at $284,803,000 after acquiring an additional 63,217 shares in the last quarter. Finally, Capital Analysts LLC grew its position in Visa by 0.9% in the 1st quarter. Capital Analysts LLC now owns 31,105 shares of the credit-card processor’s stock valued at $2,764,000 after acquiring an additional 268 shares in the last quarter. 81.50% of the stock is owned by hedge funds and other institutional investors.
Shares of Visa Inc (NYSE:V) opened at $112.99 on Wednesday. The firm has a market capitalization of $233,453.23, a P/E ratio of 40.35, a P/E/G ratio of 1.64 and a beta of 0.97. Visa Inc has a 52 week low of $77.94 and a 52 week high of $114.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90.
Visa (NYSE:V) last posted its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.05. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Visa had a return on equity of 31.80% and a net margin of 36.49%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. analysts forecast that Visa Inc will post 4.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Friday, November 17th were paid a dividend of $0.195 per share. This is a boost from Visa’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, November 16th. This represents a $0.78 annualized dividend and a yield of 0.69%. Visa’s payout ratio is presently 27.86%.
In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares in the company, valued at $8,661,119.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert W. Matschullat sold 6,220 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total value of $707,587.20. Following the completion of the sale, the director now owns 57,368 shares of the company’s stock, valued at approximately $6,526,183.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,068 shares of company stock valued at $6,597,262. 0.14% of the stock is owned by company insiders.
Several research firms have weighed in on V. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $117.74 target price for the company. in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $141.00 price objective on shares of Visa in a research note on Friday, December 22nd. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Tuesday. Jefferies Group lifted their price objective on Visa from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Morgan Stanley lifted their price objective on Visa from $125.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $118.02.
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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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