State Street Corp Has $28.43 Billion Stock Position in Visa Inc. $V

State Street Corp lifted its stake in Visa Inc. (NYSE:V) by 0.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 82,872,209 shares of the credit-card processor’s stock after buying an additional 566,194 shares during the quarter. Visa makes up about 0.6% of State Street Corp’s holdings, making the stock its 29th biggest holding. State Street Corp’s holdings in Visa were worth $28,432,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of V. Philadelphia Investment Partners LLC bought a new stake in Visa during the 2nd quarter worth approximately $29,000. Virtus Advisers LLC acquired a new position in Visa in the second quarter worth $33,000. RHL Group LLC acquired a new position in Visa in the fourth quarter worth $34,000. Copos Capital S.a r.l. bought a new stake in shares of Visa during the fourth quarter worth $35,000. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of Visa in the second quarter valued at $38,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 1.8%

Shares of NYSE V traded down $6.59 during midday trading on Tuesday, reaching $363.36. 2,531,650 shares of the stock were exchanged, compared to its average volume of 7,694,965. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $385.57. The company has a market capitalization of $648.40 billion, a price-to-earnings ratio of 30.94, a P/E/G ratio of 1.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50-day simple moving average of $367.82 and a two-hundred day simple moving average of $337.59.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.98 earnings per share. As a group, equities research analysts expect that Visa Inc. will post 13.16 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s payout ratio is currently 22.79%.

Insider Buying and Selling

In related news, insider Tullier Mahon sold 57,272 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the transaction, the insider directly owned 49,662 shares in the company, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 20,970 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $340.25, for a total value of $7,135,042.50. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,162,953.50. This trade represents a 58.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 106,404 shares of company stock valued at $38,228,528. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

V has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $430.00 price target on shares of Visa in a report on Wednesday, July 29th. TD Cowen reissued a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Citigroup restated a “buy” rating and set a $440.00 target price (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Susquehanna reaffirmed a “positive” rating and set a $427.00 price target (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Erste Group Bank upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, July 27th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of “Buy” and a consensus target price of $416.62.

Visa Profile

Visa Inc is a global payments technology company that operates one of the world’s largest electronic payment networks. The company connects consumers, businesses, financial institutions and governments, enabling transactions through credit, debit, prepaid and commercial payment products. Visa generally does not issue cards, extend credit or set consumer interest rates; instead, it provides the network, technology and services that support payments.

Visa’s products and services include Visa-branded cards, digital payment solutions, tokenization, fraud prevention, risk management, data analytics and payment acceptance tools.