Visa (V) Holdings Cut by Retirement Systems of Alabama
Retirement Systems of Alabama trimmed its position in Visa (NYSE:V) by 0.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,203,826 shares of the credit-card processor’s stock after selling 8,700 shares during the period. Visa comprises 0.7% of Retirement Systems of Alabama’s investment portfolio, making the stock its 26th biggest position. Retirement Systems of Alabama’s holdings in Visa were worth $137,260,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of V. Janus Henderson Group PLC grew its position in shares of Visa by 159.7% during the 2nd quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock valued at $909,979,000 after acquiring an additional 5,966,991 shares during the period. Vanguard Group Inc. grew its position in shares of Visa by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after acquiring an additional 2,628,148 shares during the period. Capital Research Global Investors grew its position in shares of Visa by 20.3% during the 2nd quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock valued at $1,068,613,000 after acquiring an additional 1,919,732 shares during the period. Temasek Holdings Private Ltd grew its position in shares of Visa by 116.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 3,292,775 shares of the credit-card processor’s stock valued at $346,532,000 after acquiring an additional 1,770,488 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Visa by 9.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock valued at $2,019,358,000 after acquiring an additional 1,624,700 shares during the period. 81.58% of the stock is owned by institutional investors and hedge funds.
Visa stock opened at $126.01 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market cap of $249,757.70, a PE ratio of 36.21, a P/E/G ratio of 1.61 and a beta of 0.99. Visa has a fifty-two week low of $90.98 and a fifty-two week high of $127.59.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 5th. Stockholders of record on Friday, May 18th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, May 17th. Visa’s dividend payout ratio (DPR) is currently 24.14%.
Visa announced that its board has authorized a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $7.50 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
A number of brokerages recently commented on V. Argus upped their price target on shares of Visa from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods restated a “buy” rating on shares of Visa in a research note on Thursday, February 1st. BMO Capital Markets restated a “positive” rating and set a $148.00 price target on shares of Visa in a research note on Monday, February 5th. Barclays restated a “buy” rating and set a $145.00 price target on shares of Visa in a research note on Friday, January 5th. Finally, Mizuho restated a “buy” rating and set a $136.00 price target on shares of Visa in a research note on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average target price of $137.42.
In other news, EVP Lynne Biggar sold 1,712 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total transaction of $205,440.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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