State of Michigan Retirement System raised its holdings in Visa Inc (NYSE:V) by 5.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 905,349 shares of the credit-card processor’s stock after buying an additional 48,105 shares during the period. Visa comprises approximately 1.5% of State of Michigan Retirement System’s investment portfolio, making the stock its 7th biggest holding. State of Michigan Retirement System’s holdings in Visa were worth $174,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Visa by 4.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 27,495,717 shares of the credit-card processor’s stock worth $4,430,109,000 after buying an additional 1,121,525 shares during the period. Capital International Investors lifted its position in Visa by 6.1% during the first quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock worth $3,525,557,000 after acquiring an additional 1,250,002 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Visa by 0.6% during the first quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock worth $3,273,812,000 after acquiring an additional 116,273 shares during the period. Edgewood Management LLC grew its position in shares of Visa by 1.9% in the first quarter. Edgewood Management LLC now owns 13,171,726 shares of the credit-card processor’s stock valued at $2,122,228,000 after purchasing an additional 243,957 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Visa by 3.0% during the first quarter. Legal & General Group Plc now owns 10,927,768 shares of the credit-card processor’s stock worth $1,762,092,000 after purchasing an additional 320,352 shares during the period. 81.41% of the stock is owned by institutional investors.

In other news, President Ryan Mcinerney sold 26,150 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total value of $5,017,400.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction on Friday, May 29th. The stock was sold at an average price of $194.50, for a total transaction of $1,361,500.00. Following the transaction, the chief executive officer now directly owns 136,090 shares in the company, valued at $26,469,505. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,429 shares of company stock valued at $9,746,754. Corporate insiders own 0.19% of the company’s stock.

A number of research analysts have commented on the company. Guggenheim lowered Visa from a “buy” rating to a “neutral” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on Visa from $203.00 to $186.00 and set an “overweight” rating for the company in a report on Wednesday. Zacks Investment Research raised Visa from a “sell” rating to a “hold” rating and set a $181.00 price target for the company in a report on Sunday, May 3rd. Jefferies Financial Group lowered Visa from a “buy” rating to a “hold” rating and reduced their price objective for the company from $190.00 to $180.00 in a research note on Wednesday, April 15th. Finally, Royal Bank of Canada increased their target price on shares of Visa from $195.00 to $212.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $207.56.

Shares of NYSE V opened at $190.40 on Friday. Visa Inc has a 12-month low of $133.93 and a 12-month high of $214.17. The company has a quick ratio of 1.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The firm has a market cap of $377.15 billion, a PE ratio of 36.07, a P/E/G ratio of 3.09 and a beta of 0.92. The company’s fifty day simple moving average is $194.04 and its 200 day simple moving average is $187.14.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. The business’s revenue was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. On average, equities analysts predict that Visa Inc will post 4.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. Visa’s dividend payout ratio (DPR) is presently 22.06%.

Visa Company Profile

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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