Public Employees Retirement System of Ohio Has $135.09 Million Holdings in Visa Inc (V)
Public Employees Retirement System of Ohio raised its stake in Visa Inc (NYSE:V) by 1.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,283,674 shares of the credit-card processor’s stock after buying an additional 13,227 shares during the quarter. Visa comprises approximately 0.7% of Public Employees Retirement System of Ohio’s investment portfolio, making the stock its 23rd biggest position. Public Employees Retirement System of Ohio’s holdings in Visa were worth $135,094,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Beach Investment Management LLC. increased its stake in shares of Visa by 455.7% in the 2nd quarter. Beach Investment Management LLC. now owns 144,089 shares of the credit-card processor’s stock valued at $13,513,000 after purchasing an additional 118,159 shares during the last quarter. Catamount Wealth Management increased its stake in shares of Visa by 2.4% in the 2nd quarter. Catamount Wealth Management now owns 85,535 shares of the credit-card processor’s stock valued at $8,021,000 after purchasing an additional 2,031 shares during the last quarter. Giverny Capital Inc. increased its stake in shares of Visa by 1.0% in the 2nd quarter. Giverny Capital Inc. now owns 337,801 shares of the credit-card processor’s stock valued at $31,679,000 after purchasing an additional 3,500 shares during the last quarter. Investment Management of Virginia LLC increased its stake in shares of Visa by 0.5% in the 2nd quarter. Investment Management of Virginia LLC now owns 24,752 shares of the credit-card processor’s stock valued at $2,321,000 after purchasing an additional 115 shares during the last quarter. Finally, Richard Bernstein Advisors LLC increased its stake in shares of Visa by 9.5% in the 2nd quarter. Richard Bernstein Advisors LLC now owns 109,357 shares of the credit-card processor’s stock valued at $10,255,000 after purchasing an additional 9,507 shares during the last quarter. 81.59% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated 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 objective on shares of Visa in a research report on Monday, February 5th. Barclays restated a “buy” rating and set a $145.00 price objective on shares of Visa in a research report on Friday, January 5th. Mizuho restated a “buy” rating and set a $136.00 price objective on shares of Visa in a research report on Friday, February 2nd. Finally, Piper Jaffray Companies boosted their price objective on Visa from $158.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $134.14.
Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. equities analysts anticipate that Visa Inc will post 4.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, February 15th. This is an increase from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.70%. Visa’s payout ratio is presently 32.94%.
Visa declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Robert W. Matschullat sold 6,220 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total value of $707,587.20. Following the transaction, the director now directly owns 57,368 shares of the company’s stock, valued at approximately $6,526,183.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the transaction, the executive vice president now directly owns 76,202 shares in the company, valued at $8,661,119.32. The disclosure for this sale can be found here. Insiders have sold a total of 57,634 shares of company stock worth $6,562,157 over the last ninety days. Company insiders own 0.14% of the company’s stock.
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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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